How to find a customer loyalty solution that you and your family can benefit from
With so many different customer loyalty programmes and solutions out there, it can be hard to find one that you and your family will actually benefit from. Read on to find out about customer loyalty solutions, and which ones are worth your time.
What is a customer loyalty solution?
A customer loyalty solution or customer loyalty programme is a method of customer retention that motivates customers to continue buying from one brand as opposed to another.
There are tons of benefits of customer loyalty solutions for both the company and the customer. Customers give companies their support when they buy from them, and in return, loyalty rewards like freebies and discounts acknowledge that they’re getting something in return, too.
Following are a few examples of customer loyalty solutions and how you and your family can benefit from them.
1. Starbucks/Costa rewards
With these rewards programmes, each purchase adds up to bring you closer to freebies. Using their dedicated mobile apps you can order and pay to earn loyalty stars or points which can then be transferred into a free item of food or drink.
2. Virgin Atlantic flying club
Although most airlines allow customers to earn miles and use them for future flights, Virgin Atlantic has introduced a Flying Club which allows members to earn tier points. There are three different loyalty tiers, and each provides different benefits to the most loyal customers.
This solution is particularly beneficial when flying as a family because we all know how expensive that can get, and after all, every little helps!
3. Amazon Prime
Even though Amazon Prime’s special membership isn’t particularly a customer loyalty solution as it involves a paid membership, it’s still a great example of providing enough value to regular buyers that it really benefits them.
Even though their Prime programme causes them to spend a significant amount each year, they make up for it through increased frequency of shopping transactions. Data shows that the average Prime member spends double that of the average non-Prime member.
How to find the perfect customer loyalty solution?
With more than 90% of companies now having some type of customer loyalty solution in place, loyalty programmes have placed themselves among one of the most effective tactics for increasing revenue. There are four main types of rewards programmes out there for you to choose from when deciding which will bring the most benefit to you and your family. Here are the different types:
Points-based – These are the most common types of loyalty solution. They let customers accumulate reward points they can then redeem for perks like freebies.
Tiered programs – These are a type of membership where customers get different benefits depending on their rank and they work by giving customers a goal to get more exclusive rewards.
Paid loyalty programs – Much like Amazon Prime, these give customers immediate and ongoing benefits for a fee, which can be one-time or recurring payment.
Value-based – These solutions involve donating a percentage of purchase to charities instead of rewarding the customers directly.
And there you have it – all the basics you need to know when finding a customer loyalty solution that you and your entire family can benefit from.