The benefits of a customer rewards program are many. It’s no surprise then that 71% of companies invest 2% of their total revenue in loyalty and customer relationship management programs. However, many gifts go unclaimed simply because the process to redeem them is often complicated. In this blog, we’ll go over the benefits of a loyalty program and how you can make it super easy for your customers to redeem gifts and discounts.
The lowdown on customer rewards programs
So what is a rewards program? A loyalty program offers rewards, discounts and other special incentives to your customers, supporting your efforts to retain loyal customers and attract new ones. They encourage the customer to purchase your product or use your service repeatedly, providing you with a trustworthy pool of repeat clients. Basically – the more they spend, the greater their reward (and yours).
The benefits of a customer rewards program
At first glance, a rewards program may feel like too much of an effort – and an expensive one at that. However, with some smart planning, the ROI can be high. Here are some of the benefits of a well-thought out reward program:
Cheaper in the long run. It’s more expensive to sell to a new customer than an existing one. A rewards program encourages loyalty among your existing customers and also spurs them to recruit new customers themselves. Word of mouth is a powerful marketing tool.
Create brand loyalty. A great rewards program can seamlessly integrate into a customer’s routine, ensuring brand loyalty. When customers get invested in your program, they will make a true effort to repeat purchases and increase their points in the process.
Build mailing lists. You can build extensive mailing lists when people sign up for loyalty programs (do ensure your company is following all data protection measures, though!). Mailing lists help you stay in touch with your customers, keeping your brand visible to them over an extended period of time.
Improve your reputation. We still have to meet someone who doesn’t love a well-thought out reward. When customers feel that they matter to the brand, they would be more willing to repurchase. Offering great deals and rewards creates a positive connection with your clients.
Make it easy for clients to redeem gifts
All these benefits would be futile if your offers are too complicated to understand and the redemption method you offer is bureaucratic and time consuming. It would also reflect badly on your brand.
As a first step you should ensure that your customers are knowledgeable about your reward program, and what they can benefit from. Eliminate confusing offers – this would only frustrate your clients (something no one wants). Ensure that you’re offering something your customers actually want. And finally – and one could say, more importantly, provide a seamless redemption experience. This is where we can help.
At Ciloo, we help brands deliver the benefits they promise to their customers. Here’s how we do that:
An easy-to-use redemption portal We put back ‘fun’ into gift redeeming. The secure portal is accessible through a unique code. Your loyal customer then simply selects an awesome gift, enter their shipping address (if required), and their gift will be on its way to them presto.
100% personalized Our redemption portals are custom built, allowing you to modify and enhance according to your needs. They’re your brand, 100%, ensuring brand consistency throughout the redeeming process – from ordering to your client receiving the gift at home.
It took your company time and effort to create the best customer rewards program. It’s now time to make it easy for your trusted customers to make use of it. A loyalty program without an efficient redemption system can quickly turn obsolete, and even a stumble block for your brand. At Ciloo we help ensure that your redemption portal is as awesome as your brand!
Our redemption portals are also great for post-event giveaway distribution, online consumer promotions and incentives, client gifting, referral programs, employee appreciation, free brand swag distribution, and office needs for remote employees. Get in touch with us to see how we can help you retain customers and build rewarding relationships with them and your employees.