Successful marketing professionals understand the value of innovative loyalty programs. After all, the cost to acquire a new patron is much greater than keeping an existing one. As such, customer retention programs are a priority for thriving marketing departments. These teams are continually thinking about creative ways to appeal to their customer base for more sales. Across multiple industries, there are many ways to create loyalty programs that work. Here are some top examples to create innovative loyalty programs for an online business.
Reward User Generated Content
If your online business has an active social following, you can reward user generated content. For example, companies have successfully implemented branded hashtags for a loyalty program. The benefit of using UGC is that some customers just enjoy being promoted by your brand. This makes it an inexpensive type of marketing campaign. Of course, marketing specialists may have to entice others to participate. Typically, this is when companies enact a points system to improve customer engagement. Customers can earn points each time they engage with your company’s social platforms. Rewarding user generated content is a simple, innovative loyalty program to improve customer engagement.
Create Strategic Partnerships
Next, strategic partnerships can result in highly effective loyalty programs. Sometimes known as coalition programs, you can provide exclusive benefits through another company. Certainly, this type of program works depending on the “fit” of the strategic partner. For example, an online grocery service might offer special deals with an online dessert shop. These types of rewards would be available to customers who sign up for the loyalty program. As a result, both businesses would increase sales by creating a strategic partnership. Moreover, customers would have access to products that are not offered by the original online business.
Include Gamification Techniques
In the online gaming industry, gamification techniques are very popular to create new loyalty rewards. Gamification allows businesses to reward users for participation, sharing, unlocking levels and winning contests. For example, online casinos reward users for time spent on game slot booming or other popular categories. Moreover, they can incentivize minimum spend or unlock bonuses for participating at specific times. As long as you make the reward winnings simple to understand, many users will take advantage of gamification. It makes the loyalty program unique, engaging and profitable for the online business.
Provide Exclusive Offers For VIP Members
One big innovation in online businesses has been exclusive offers for subscribers of loyalty programs. Many companies providing one-time services, such as Amazon Prime, have introduced monthly subscription plans. These plans contain exclusive discounts and other perks. In competitive industries, a loyalty program like this can differentiate your business from competitors by adding value. This value will give consumers a reason to engage with your business exclusively. Also, paying upfront will encourage consumers to spend more with you to validate their investment. Additionally, this type of program can help with measuring brand value. Consumers will surely respond to exclusive perks and discounts being offered for a modest investment.
Establish A Charity Program
Additionally, a charity based loyalty program emphasizes the values of an organization. This is one of the most innovative programs that companies are adopting to build stronger relationships with their community and customers. Choose a cause, charity or movement that resonates with your online business. Then, give customers the option to donate their rewards or get involved with your philanthropy work. For example, you can offer to match donations or donate a percentage of profits on a specific promotion. This type of commitment to society can have a very strong impact on brand loyalty that goes beyond conversion rates and analytics.
Of course, an innovative loyalty program can help grow customers and sales for many online businesses. Depending on your industry and products, you have several ways to make your loyalty program unique. If possible, encourage customers to create user generated content. Partner strategically to give your customers more selection and offers they would like. Implement gamification techniques into your online systems. Wherever possible, provide exclusive deals for VIP customers. More so, get your customers involved in your mission and cause. These are some of the best loyalty programs for online businesses to use.