Get Your Customers Coming Back with Loyalty Programs

One of the factors that make a business successful is the ability to retain customers. It is a gratification in physical form that says your product or service is of quality since customers are constantly coming back for more. However, a lot of businesses are still figuring out how to retain customers, or in Filipino terms, have a “suki.” This is where loyalty programs come into play.

What is a loyalty program

Loyalty programs are marketing strategies designed to retain customers or keep them coming back. It is a way to reward customers for constantly being there to buy products or avail of services your business offers. According to e-commerce giant Shopify, “Customer loyalty programs reward customers who repeatedly interact with a brand.” This also encourages your customers to refrain from looking at competitors.

One example of this is the annual stars or stamps you collect from popular coffee shops like Starbucks and The Coffee Bean & Tea Leaf, where you earn a reward after X number of coffee purchases.

Why are loyalty programs important

Loyalty programs incentivize customers to spend more to earn rewards. This gives them an added reason to buy from your business. There is also the possibility of your loyal customers becoming brand ambassadors when they promote your business to let others know of the win-win situation your loyalty program offers.

Furthermore, loyalty programs also offer a competitive edge as they lure customers away from competitors with appealing incentives. An added bonus to this is if your product or service is really good enough, they’ll come back even after they complete the loyalty program. (GFB)