Seasons greetings from Strategic Investments. We would like to take this opportunity to thank our loyal clients for their patronage and to welcome new ones. Thank you for giving us the opportunity to work with you in developing customized incentive plans for your customers and employees. Our team of experts take great pride in providing you with custom-designed sales incentive and customer loyalty programs along with marketing and change management strategies to help you achieve business success and customer satisfaction.
The holiday season is well underway and celebrations are in full swing. Amidst the holiday festivities it can be easy to lose focus on your business goals. As the year winds to an end it is tempting to sit back, reflect on the year’s accomplishments and consider it a job well done. This sense of complacency can be detrimental to your company’s success; you don’t want to run the risk of losing your competitive edge. Take the time to set your business resolutions for the new year. The holidays are the perfect time of year to start thinking about showing your customers your appreciation by planning a customer loyalty program to implement in the new year. A loyalty rewards program is an excellent way to extend your customer base and increase the amount of spending per client. It is also integral in generating referrals, encouraging repeat business and assuring customer retention.
When designing and implementing a customer loyalty rewards program there are several key strategies that should be kept in mind.
- Keep it simple: Don’t have a convoluted list of eligibility and redemption requirements. Customers do not want to have to work for their rewards. An overly complicated rewards program will ultimately discourage participation and impact your bottom line negatively.
- Provide Education: All staff members must be familiar with the incentives program in order to promote and facilitate its implementation. Be sure everyone is on board and up to date!
- Reward referrals: Customer referrals are an affordable and effective marketing tool. New clients are likely to trust the opinion of their contemporaries and in turn will place their trust in your company. Rewarding these referrals will increase their incidence and also your profits.
- Reward new customers: In addition to rewarding referrals by existing clients, it is essential to encourage new customers to come on board as well. Building your client base is the first step in steady and sustained company growth.
- Advertise: Be sure to use all available venues to promote your loyalty incentives program. Include program details and a call to action in your email newsletter, on your website and on all social media platforms.
- Know your target market: Do your research, your program should be based on your clients’ needs and interests. To be effective, it must be beneficial to them or they won’t be inclined to participate or refer others.
- Be flexible: You must be willing and able to revamp your program based on customer participation and response. Encourage customer feedback and make any modifications that prove to be necessary.
- Include tiered reward levels: Always reward repeat and prolific customer participation. Offer extended benefits based on number of transactions completed or attainment of a set amount of dollars spent.
Our team of experts is ready to help you plan and implement your customized loyalty program. Contact Strategic Investments today to arrange a consultation and take the first steps towards a successful and profitable 2016.
For more information on Strategic Incentives’ unique motivational programs, call 888-686-8116 or visit our web site at https://www.strategicincentives.com
About Strategic Incentives: Strategic Incentives is a leading nationwide provider of employee motivation programs. The company works with HR managers to implement sales incentive programs and safety incentives to retain employees, and loyalty programs to build customer relationships. Visit the website at https://www.strategicincentives.com to download a complimentary PDF of “35 Ways to Use Incentive Programs.” “Like” the Facebook page to receive regular updates on sales incentives and promotional ideas. Call 888-686-8116 for more information on creating an in-depth performance improvement plan.
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