Increase Sales with Rewards
If you have an online business, you may be thinking of ways to give your customers a positive, fast and efficient experience in order to grow your business. There are many ways you can optimize your business and improve the experience for your customers.
One effective way of doing just that is by implementing a loyalty program into your business. Let’s have a quick look at what this consists of and how you can implement loyalty rewards into your online business.
Customer loyalty can be bought at a very affordable price.
What is Loyalty Rewards?
Loyalty rewards is a business structure or strategy put in place by a merchant to reward customers for joining, shopping or spending with them. Such a rewards program can be very different from one merchant to another, having different rewards and various ways of storing or showing those rewards.
Purpose of Loyalty Rewards
Growing your business in various aspects is the purpose of any marketing strategy.
Our very own online retail world functions very much like physical retail stores. We sell products to customers just like physical retail stores do, the main difference is that we do it online. A procedure we can similarly inherit from many retail chains is loyalty rewards and we can have great success with it just like they do!
Have a look at the many case studies about loyalty rewards and the mention of many big, successful companies that do use it.
1. Get Repeat Customers
Many customers shop at certain retail stores or chains because of the rewards they will earn for spending. Those same customers will be driven back to those same stores again in order to spend the rewards they earned the previous time, earning rewards again for shopping. The cycle goes on and before you know it, you have a loyal customer.
2. Conquer the Phycological Strategy
When you look at loyalty and rewards this way, you are not exploiting customers or tricking them into buying from you. You are simply being smart at running your business while honestly and fairly giving your customers the rewards they very much deserve. It is a simple form of mutualism.
Rewards create loyal customers more often than loyal customers earn rewards.
3. Keep It Simple
There are several things you want to keep in mind or shall I say, things you should not be doing when running a loyalty program. Here are some parts you may want to avoid when you start your own loyalty program:
- Customers can get confused by points systems or complex calculations, consider cash as a points system.
- Rewards that expire are very annoying, customers may be more tempted by rewards that don’t expire.
- You should consider giving rewards on the entire shop and not just certain items or products.
That said, you should do what suits your business best.
Implement Your Own Loyalty Rewards
Online merchants can easily implement loyalty rewards with software.
We developed an extremely powerful extension for our WordPress Shopping Cart plugin and the extension is called Loyalty Rewards as you may have guessed. It comes packed with all the necessary features to setup and run your own loyalty rewards program on your WordPress online shop within minutes.
If you don’t have a website, you don’t have WordPress or you don’t have our Shopping Cart plugin for WordPress, have a look at the links or talk to us if you have any questions. We are here to help and guide you and our software was purely designed to provide a powerful eCommerce system specifically for WordPress.