When it comes to loyalty programs, companies are struggling to figure out what works and what doesn’t to inspire loyalty in customers for their brands. Customer incentives have never been harder to define. According to a recent study from Experian, three out of four (75%) U.S. companies with loyalty programs generate a return on investment. This clearly shows a benefit for most companies who spend money on loyalty programs. There is no denying that loyal customers are more profitable than acquiring new customers time and time again. Actually, according to Experian, 69 percent of U.S. companies with loyalty programs track the lifetime value of each customer for an average value of $1,803. However, getting to the point of customers returning time and time again to shop with their favorite brand is easier said than done. Should brands offer fuel rewards? Or would points off groceries work better? Marketers have to get customers involved and eventually have them advocate for their brands by sharing products on social media and referrals! Below is the ultimate marketer’s list of do’s and dont’s of loyalty programs. Customer goal setting is beneficial for setting either a timeline or a call-to-action. This can be done through […]
Tag: Customer Engagement
Online Customer Engagement? It’s Simple If You Do It Smart
A total of 52% of Web traffic to retail sites currently comes via smartphones and tablets, according to IMRG and Capgemini. Over a third (36%) of online sales are now completed on a smartphone or tablet device. This signals that sales are rising online, and sales are increasing online for mobile purchases versus the traditional face-to-face or in-store payment methods. Users are reaching out in the quickest, most efficient way to make their purchases. Customer loyalty and customer engagement are necessary for businesses today to grab those online viewers’ attention and pull in new sales. But, the end goal is changing just a bit. Instead of only making that sale, businesses today must earn customer loyalty to drive recurring sales. Ultimately, customer advocacy is where the true value of your brand lies with the consumer. Are your customers recommending you via social media networks? Is your company ready to keep up? Analyzing your audience takes research, knowledge of your company base, and a full understanding of your product or service. Nobody can afford to target everyone anymore. Break your niche down. Put your time, money, and efforts towards the group with the highest chance of purchasing. By targeting your audience […]
Top 7 Reasons Your Prepaid Card Rebate Program is Weird
Prepaid card rebate programs are hot right now. Multiple industries are trying to set this program up for customer incentives because it actually works! However, companies are struggling because they are making crucial errors that make their card and reward inefficient and, frankly, a pain in their customer’s butts. Imagine a mail-in rebate of $50 on a $40 video game. Only $10 for the newest edition, and you think to yourself, “I need that.” So you write out a check and mail it in as quickly as you can. You mail it in and patiently wait. Months go by, you don’t receive your check, you’ve written those angry letters, but no luck. There could be hundreds of reasons the company didn’t send that check. But you’ll be sure to never do business with them again. Read on for 7 reasons why your prepaid card rebate program is failing. There are many different strategies to begin a prepaid card rebate program. Is your system manual or automated? Is your only reason to use rebates for the breakage or slippage? Rebates are an awesome way to generate new leads and sales, but the start-up cost of the soon-to-be-discounted price and the cost […]
The Untold Secret To Quality Incentive Programs
Incentive programs can lure new leads into your sales funnel, retain old customers, or motivate employees to increase their sales. While the past techniques of incentive programs have been useful, a new strategy is emerging, and it is taking the incentives industry by storm. During the past 5 years, there has been an obvious change in incentives programs in the marketing world. Are you ready for the change? There are hundreds of options when developing an incentives strategy. There could be customer offers to gain initial leads, such as sweepstakes, sales offers, or instant win games. All of these options will get people interested in your company, but there are three important facts to consider when developing your consumer incentives program. Firstly, how and when your incentives are delivered. If you promise a customer an incentive for purchasing one product and offer them a different coupon for their next purchase, how will you give them that coupon? Will it be in a letter to their home address? Or should you send a virtual pin number so they can redeem it immediately online? How you send your incentives also sends a message about your company. What would happen if that coupon […]
Customer Loyalty – Royal Equals Loyal
Your participants (customers, end users, members, consumers, or respondents) are looking for perks—an extra benefit for staying with you. Put simply, your participants’ benefits can make all the difference in the success of your organization. If you want to acquire, retain and engage your participants, you must offer value-added benefits that are relevant. You need to offer real value so they welcome your continued contact. Our team encourages thinking beyond demographics and includes attributes such as interests, lifestyles, and life stages. Innovation, differentiation, relevance and making an emotional connection with your participants are essential to program requirements to help your loyalty program stand apart in a crowded market. Loyalty is a composite of a number of qualities. It is driven by participant satisfaction and involves a determination by the participant to make a sustained investment. It is reflected by a willingness to recommend the organization to others and a commitment to the organization demonstrated by a resistance to switching. (Prus and Randall, 1995). Participants, at different stages of loyalty, will demand differentiated intangible offerings such as the level of service (Palmer et al., 2000; Knox and Walker, 2001; Rowley, 2005). It is an accepted fact that loyalty is a function of […]
Fear Not If You Use Gamification The Right Way!
Gamification is taking off. It is estimated that in 2016 $2.8 billion will be spent on gamification. 70% of Global 2000 organizations will have at least one gamified APP. And, 50% of organizations worldwide that manage innovation processes will gamify those processes. But, what is gamification? Gamification is the process of enhancing services with motivational processes to invoke enhanced experiences and further behavior outcomes. Gamification falls into the behavior-feedback-progression model. A specific behavior will get you specific feedback. Like playing catch. If you throw the ball and your partner catches it you will say “good job!” But, if your partner drops it how would you respond? The feedback will determine progression. If someone is getting a lot of negative feedback why would they continue? People play into the gamified apps for instant gratification or instant rewards. Make the consumer feel a connection with your company by implementing positive feedback and steps to continue progression such as call-to-actions. So, how does this so-called ‘gamification’ work? Well, gamification works because it plays into the psyche of humans. All ages at some point have been exposed to games whether it is baseball, card games, Nintendo, or Xbox. They learned to win, lose, and how […]
Find Out Now, What Should You Do For Fast Engagement Online?
People are engaging in products and services more than they ever have. What is the number one site people visit if they have a question? Google! Companies struggle to engage these active consumers and reach out on the multiple platforms available. So, the real question is, how do you engage users online when you don’t know where they are looking? Read on for ADR’s tips to engage online. First off, know your audience. Who are you trying to reach? Can you narrow your search to a specific niche? What websites or social media sites are they on? For example, if you sell a baby product, will you market to the mother or the father? Then, where do you advertise? Facebook, Twitter, a blog? If you can narrow your search and specify the audience you will have a niche market that is easier for you to engage. Secondly, how do you plan to attract your audience? You can’t simply offer products and hope that people online will buy. There is heavy competition for whatever product you offer. Develop a content strategy. A content strategy is a plan that involves engaging consumers by providing them with your unique information or entertainment. Examples […]
How To Use Digital Rewards To Create A Successful Business
The world is going digital. Everywhere you look, there seems to be someone Googling something, searching for information, directions, and posting a tweet. Businesses are following suit and going digital as well. This not only means putting their information online but also offering digital rewards to help achieve success in their incentive programs. Successful and effective incentive programs are promotions or programs conducted by a business or organization whose core goal is to motivate behavioral outcomes from its participants. They have clearly defined goals, established rules, achievable and desirable rewards that leverage risk, center effort on goal commitment, and may have elements of competition as well as other aspects. Participants must be able to track their progress to stay motivated. They should see benchmarks as they are achieved and receive regular updates and notifications to understand how close they are to their goal. Digital rewards are rewards that are delivered via an encrypted link or QR code as enticements to motivate behavioral outcomes and increase engagement with a targeted audience. Digital rewards offer incentive program managers flexible delivery transfer options and access to real-time reporting and analytics. This type of reward is generally accessed instantly, easy to use, and […]
