Why Loyalty Is Important Turn Your Customers into Fans Terry Morrell

Open Loyalty?

What do you consider the word “Loyal” to mean?

In commercial terms, what we’re looking for is some kind of regular support through spending and advocacy from customers.

Keeping customers engaged enough to gain their repeat custom means understanding them, meeting their needs and making them feel valued -things that will surprise no one.

A 5% increase in customer retention can increase profits by 25%+

Clearly, whatever method or tools you use, loyalty is core to a sustainable business.

Going further than that is about turning your customers into fans.

If that’s your goal - keep reading.

“Almost 70% of consumers are drawn to businesses that have loyalty programmes, yet most independent businesses either do not operate one or have not digitised it"

All stats used in this book are industry averages and from our own field research

Open Give em a boost!

In hospitality businesses for example, the first few moments after a customer enters the premises are crucial to set the tone of their experience.

Placing loyalty interactivity in this early time frame can influence your customer mindset in a good way.

Our field observations have shown that a boost to customer demeanour once they have engaged with an interactive loyalty kiosk makes the subsequent human interaction flow more positively.

This type of pre service engagement is becoming more digitised and self-service based with interactive kiosks, digital signage and good old fashioned QR codes.

Over 80% of consumers say they enjoy the visual nature and empowerment afforded by interactive kiosks.

This means more usage of your loyalty and rewards program - a key loyalty ROI metric.

However, many businesses serve a multi-demographic customer base, which means offering a variety of ways to access your loyalty and rewards programme from digital to physical membership cards, as outliers can be yo

Open Repeat custom is the start!

Do they come back for more, more often and spend more?

Almost 70% of consumers are drawn to businesses that have loyalty programmes, yet most independent businesses do not operate one.

To hammer it home, once customers join your loyalty programme, over 60% of them will spend more with you.

That leads to the holy grail term when thinking about what customers are worth “lifetime value”. Maximising that is a melting pot of variables, but as an independent business you can extend customer lifetime value with a unique and evolving loyalty and rewards programme.

This in turn, gives you the opportunity and time to delight them over and over with your products and services - the true sustainable reason customers become your fans.

Open Follow the wave

There’s always something new with technology, but if you stand back a little, there are trends you can tap into that your customers have already been “trained in” by the world at large.

For example, touch screens are well accepted as long as the experience is swift and intuitive. Whereas apps can require more commitment to register and use.

Other technology can become part of daily life before you know it like the smartphone wallet.

Choosing the right loyalty setup for you should increase customer empowerment and interactivity, not slow down the business or frustrate customers.

Open Ownership Is Key

Remember, owning your data is important

The phrase_ “Don’t build your house on rented land”_ is very apt in how you pursue any form of loyalty initiative.

Many online platforms offer you the opportunity to ‘buy’ new customers with discounts and the like. 

A smart way to utilise these is for temporary or experimental offers to limit your exposure, with a seamless method for these new customers to join your database.

Having your own branded loyalty programme sounds grand, but it’s actually more affordable than you may think and importantly - creates the foundation to build valuable data assets.

Not many business owners implement and build a successful loyalty and rewards programme on their own, so look for a supplier with hands-on expertise that you might need from time to time as your business and ambitions develop.

Open Don't be an island

Don’t be an island

The narrative so far has been about your own platform, your own rewards and your own data. 

However, collaboration can be a great source of new customers at low or zero cost.

For example, customers can be encouraged to try your non competitive peers by saving up their loyalty points to redeem a reward with them, who also sends new customers to you.

This closely maps the well established “word of mouth” philosophy, but with traceable digital support to help you and your collaborative peers learn and innovate.

The mechanism for this can be found with forward thinking loyalty and reward system providers.

Open Have a virtual coffee!

“Almost 70% of consumers are drawn to businesses that have loyalty programmes, yet most independent businesses either do not operate one or have not digitised it"

Gain Loyalty offers a complimentary consultation to explore how a loyalty and rewards programme could be designed to target real world metrics that help build your business (whether you use our technology and services or not). 

Read next: Your road to fans with kiosk loyalty & rewards

Start with an email to hello@gainloyalty.com

Or, if you’d like to arrange an in person or virtual coffee, feel free to contact Terry Morrell, who’s based in Cardiff, UK

terry.morrell@gainloyalty.com

Open Don't take our word for it

Some things people say about Gain Loyalty

“I feel lifted” Karen Kelley

“We found the whole set up process very easy and your team held our hands through the process. Every time we needed help or advice you were straight onto it to sort it out. The customer feedback has exceeded our expectations and it’s attracting new customers” Simon Fishwick

“You helped pivot my business” Pontheolla Abernathy

“OMG, I love it” Caroline Newling-Ward

“We have been given many thanks over the last year that we set up a rewards scheme with you” Katie’s Garden Centre

“Since using the system, our footfall has increased and customers really enjoy it” Astrid Walker

“Best thing we’ve done since buying the place” Howard Browes

www.gainloyalty.com 01473 396470 hello@gainloyalty.com