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A Millennial View on Revamping a Loyalty Program

A Millennial View on Revamping a Loyalty Program

A loyalty program is an awesome asset for small to large businesses to incentivize customers if implemented correctly. Consumers are more likely to return for repeat visits especially if the rewards are directly relevant to them. Keeping a loyalty program up to date is key. The times are changing and the day of the punch “loyalty” cards are over. Savvy consumers, especially Millennials and younger generations, want to visit like-minded businesses and restaurants with loyalty programs.

Some people believe doing away with loyalty programs all together is the way to go, though many disagree. First and foremost, as a business owner, you must learn who your customers are, what they want, and how to reward them in a way that translates into repeat visits. If you have the tools to collect data on your customers, then by all means collect it! (This can be done with a simple customer survey if you lack advanced methods.)

Now put yourself in the customers’ shoes – How do they earn rewards and how long does it take? Making rewards easy to achieve i.e. not making your customers jump through various hoops for a simple 10% discount will make the customer feel as if they are working towards something achievable (and yes, in the near future). There are tons of ways to solve this issue, and here are just a few: Create different reward tiers, reward customers for reaching certain milestones, or set a specific day for customers to earn bonus points.

There are many different ways to facilitate a loyalty program with all the new technology available. Rather than using a punch card or traditional card which customers might forget at home, why not develop a mobile app compatible with your loyalty program? If you don’t want to hire programmers to develop a mobile app, you could create what is known as a social loyalty program which is based on customer behavior and interaction via social media websites.

Many companies have taken these steps to create a fresh appearance for their customers. Promoting a new or existing loyalty program is one of the biggest factors in drumming up membership. There are many ways to promote a program however here are a few effective methods. First, make sure to create a link with information about your program on the company website. Second, notify your online following via posting on social media websites. Third, if you have a store-front, educate your employees about the program so they may promote it to customers in-store.

Follow these few simple steps and your loyalty program should be back on track within no-time, or better off than it was before!