Loyalty in business has to do with gifts, packages and other incentives. It is used mainly for marketing and winning a customer over.
Loyalty marketing then means reaching out to existing customers with irresistible incentives so as to ensure a strong relationship is built and business can still be done together.
Hi everyone my name is Timileyin and in this post i will be sharing with you 10 ways to make your loyalty marketing work for your small business.
As a business owner or entrepreneur trying to grow your sales and revenue, loyalty marketing is one of the most effective ways to do that.
The beauty of it is that it is not expensive to carry out since the people you are reaching out to are already existing customers so they know your value already.
There are a lot of ways to carry out loyalty marketing but i’m giving you just 10 ways to do it. Sit tight, read between the lines and put them to work.
The first way is to
This is an approach for getting existing customers back in the purchase of their product by doing give-away for a short period of time.
This approach is all about using a product you can sell for free to promote another product in your store just to get existing customers back and sometimes new customers.
The second way is to
Set No Obligation Trials
This approach is mostly profitable and adoptable for businesses that are either into software or something very expensive or complicated and there are likelihood of possible challenges especially while making a purchase .
The best way to resolve this issue is to set no obligation trials.
The third way is to
Make an Exclusive Club
This method is about creating a community of just your members only, when i said members i mean your customers and not people who haven’t patronized you before. This gathering shouldn’t have to cost your customers and yourself a fortune, it’s just something really simple.
This community is basically aimed at giving your customers the opportunity of having first hand touch or reach to your products. Now what i mean by that is before you start selling them, your customers in that exclusive club would have seen it and made their reviews about it before you launch it.
You can also make it an avenue where you give samples of some of your product out for free.
The fourth way is to
Make Free Offers
As an entrepreneur or business owner, when giving out your products, one of the things to do to further make it valuable to users is to increase the value of every purchase.
For example let’s say you sell a product for $500, to increase the value of the purchase you can change the condition by saying if you pay $500 within a particular period of the day you’ll get a discount on that amount you were meant to pay.
The fifth way is to
Introduce the use of Punch Cards
This marketing approach is mainly utilized in the industries where consumables are the main thing they do.
Punch cards is what most of these businesses in this niche use to track and keep in touch with their customers. The more purchases a customer makes the more opportunity he gets to receive more freebies and thereby causing them-the customers to keep coming.
The sixth way is to
Get Customer’s View about the Incentives they want
Giving out incentives is one thing and giving out incentives that are compelling and of value to your customers is another thing.
To ensure that all the effort that is put into your loyalty marketing is not futile, you need to make sure that it’s what the customers need and one way to find out what they need is by taking a survey.
During this survey, the customers while giving their views are also being made aware that incentives are likely to go out soon so that will also prompt them to be on the good side of the business owner by patronizing more often.
The seventh way is to
From the name “update”, you can tell it’s mostly applicable to businesses with software. Many individuals won’t want to pay a fee just to buy an app not to talk of updating one.
To solve that issue, the best way to do it is to make sure that the software is free if you can make it so but more importantly the updates, the updates should be at a free cost. This will keep the customers engaged with your software than when there’s a price tag on it.
The eighth way is to
Special Day Gifts
This is a form of loyalty marketing that involves taking certain days into cognizance like Christmas, New year, Easter, Birthdays, business anniversary and so on.
On these days, you can give free gifts to your customers, this gives the customer the sense of care and that they can trust you.
Due to acts like this, you definitely will end up on their good side and also be patronized even if your prices aren’t favorable to an extent.
That doesn’t mean you shouldn’t work on your prices.
The ninth way is to
Take part in Partner Programs
Loyalty marketing is flexible to the point that you can always partner with a complementary business in your locality and engage in discounts or incentives that are profitable to both you and the customers.
The tenth way is to
Adopt the act of Gamification
This method is one of the widely used methods of marketing in terms of loyalty. This method involves you making room for your customers to acquire points or credit by playing some sort of game or lottery.
These points are then used to get free gifts from your business. While doing that, you are automatically making room for your customers to engage with your business.
Another approach of Gamification is done by hiding a free product somewhere random in your business website and you’re being told to look for it. While going through all the product just to search for that free gift, you’ll automatically see some products that will catch your eye and cause you to purchase it.
These 10 ways are proven and certified applicable, if done well they’ll give you the result you expect.
Read, practice and share