19 August 2019 By My Digital Agency
Old Customers Maybe Gold, But New Ones Too Need To Be Sold!
While keeping the customers coming back to you may be an achievement, getting new ones under your brand’s wings can be a daunting task for most marketers. But as and when sales start to plateau even with existing customers, or when marketers are ready to expand their brand, what is the strategy in hand that might help them make comeback to where they once stood? Bringing in new customers is the only shot that the marketer will have to focus on in this scenario.
As it is rightly put, “Just having satisfied customers isn’t good enough anymore. If you really want a booming business, you have to create raving fans.” – Ken Blanchard. Having fans of your brand is good news in this internet era, as they play the roles of brand ambassadors for your brand, online and also offline! These fans are contagious in the best way, as they will not only keep coming back to your brand but also bring in new customers for your brand.
It all sounds about right until this point, but to attract customers, and inject cash flow back into the business; marketers will need a powerful strategy. Research shows that an average American household has membership in 29 loyalty programs; 82.4% of people are more likely to shop at stores with loyalty programs. These stats help us conclude that loyalty programs are huge right about NOW! Loyalty programs not only help retain the existing customers but also have the capacity to bring in the new ones. Although some essentials have to be taken care of for making a loyalty program work!
The Traditional Sign-Up
- Engage your customers at the check-out point: This is the best time to pitch in or approach your customers with your loyalty program, as customers can potentially get rewards with the purchases they have just made. Nothing makes a customer happier than knowing that they have been rewarded, and hence it makes sense to mention the program at this point.
- Ask the right questions: The questions that are being asked to the customers play a key role in whether or not the customer will be interested in the sign-up process. Asking the right questions can peak the customer’s interest and finally bring them on the path of being your loyal customer.
Would you like to redeem any rewards today?
Are you a member of our rewards program yet?
These questions attract customers and generate curiosity, which in turn will lead to them signing up for your loyalty program.
Make the process easy: Once your customer is interested, explain the process in simple and easy terms. Also, be specific about rewards in initial explanations, which will make the process feel seamless and worth the rewards. If the process sounds complicated, customer may pass on the opportunity.
Rewards & Points
- Specify the rewards: Being straight and specific about rewards that customers are being offered makes it easier for them to decide about your loyalty program. If a new customer is typically being offered 10% off on their first purchase after signing-up, mentioning the same peaks a customer’s interest and leads to them sign-up for the process.
- Create a simple point system: Marketers can offer deals to their frequent customers, wherein they earn points that convert into rewards. This kind of point system is most basic building block for loyalty programs. It works best with quick, inexpensive retail stores such as fashion outlets or grocery stores. If a brand is selling a range of items, a plastic swipe card that stores points and later translates into discounts is a better option. Try to make relationship between points and tangible rewards as simple as it can get and also as transparent as possible.
- Offer tiered rewards: In this reward system marketers can offer a small incentive for making an initial purchase. The value of rewards increases as customer progresses up the loyalty ladder. This reward system works best for higher-commitment and price-point businesses such as hotels, airlines, amusement parks and insurance companies.
Keep In Touch
- Communicate with purpose: Huge mistake that marketers today make is that once they’ve brought in the new customers, they tend to look forward to next transactions and setting up future goals. Instead what they could do is, devote resources that continue to build relationships with customers. Things like being active on social media, sending customers special incentives and notifying them about any upcoming offers or sale, sending them email newsletters and regular communication. However, keep it meaningful and beneficial. No customer would like seeing their inbox cluttered with unnecessary mails that don’t serve a purpose.
- Give them reason to shop again: Continue to stay in touch with your customers and improve what you have been offering every once in a while. Remember to notify your customers about the new things. Treat changes, updates, offers, sales, discounts as just another reason to interact with your customers!
- Surprise your customers: It is always a delightful experience when someone or something exceeds beyond expectations; take a lesson from this to surprise your customers. This can be as simple as remembering a customer’s name or a special deal or discount on their birthdays or other such milestones. Reward them with loyalty points or discounts for business that they provide and when they use your services repeatedly.
Treat Your Customers
- Reward referrals: Always leave your customers with an experience that is reason to recommend your brand to friends. Offer rewards and free gifts to them in return for every new customer that they bring in. A customer that is appreciated is the customer that is an asset. Appreciation works wonders and that will lead to generation of new and loyal customers for your brand.
- Collaborate with other brands: Teaming up with associated businesses and offering reciprocal discounts gives brands a much bigger market to branch out. Classic example includes sport clothing brands that team up with fitness clubs and gyms and offer discounted membership for purchases above a certain value. In return, gym offers discount vouchers for the store and access to special promotions to their members.
- Invite customers to the making and trial run of products: Brands can invite their most loyal and trusted customers to try out their new offers before being launched, for feedbacks or a trial run. Giving customers a sense of ownership and making them feel trusted would later result in sales and a good word of mouth recommendation about your brand.
Our take on it
Acquiring new customers isn’t as daunting as it seems. Once marketers have a customer-friendly loyalty program in place, all there is left to do is promoting the brand in right manner and encouraging members to join. Tools like Open Loyalty, which is loyalty software for developing dedicated loyalty applications, prepared for large-scale projects, proven by partners can be used to set up a loyalty program that suits best for your brand. Treating customers right and keeping their needs at the forefront, will lead to creating a buzz about your brand through them. Need more information about what to look out for before setting up a loyalty program? Reach out to us at email@example.com
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