How your Loyalty Programme can help build your brand?
When you hear the term Loyalty programme it’s very likely that you will be familiar with points and discounts even personalised communications but that is only part of what a loyalty programme can do.
According to Investopedia, A brand is a collective impact or lasting impression from all that is seen, heard, or experienced by customers who come into contact with a company and/or its products and services. In creating a brand, or “branding,” you have to manage the effect that your product or service is having on the customer.
If you’re entirely focused on price then your loyalty programme is competing with your competitors on the base level. There is no true loyalty, no advocacy, no emotional response to your brand just customers who will always pick the lowest price.
To drive your loyalty programme to the next level and develop your brand you need to compete with your competitors on an emotional level and make a connection with your customer. The premise of a loyalty programme is to gain more business from existing customers, its to nurture your best and most loyal customers and make them advocates for your business.
Creating A True Fan
Ford had the most brand loyalty of all new car sales in 2012. Ford continues to utilise its loyalty programme to secure it’s brand loyalty. They launched fordpass app as they wanted to ensure their programme was accessible, flexible and convenient to encourage customer engagement and retention.
Starbucks ultise social categorisations or tiers through their loyalty programme to reward their loyal customers. Starbucks consumers that have earned “superior” status feel a sense of belonging and achievement.
Totalhealth took on AzpiralPRO in 2014 and managed to get 100,000 loyalty customers onto their programme. By doing so they were able to unite pharmacies across the nation to use their brand by offering discounts on matters that their customers cared about. Through AzpiralPRO’s features they were able to connect on an emotional level with their customers allowing them to unlock the benefits of true loyalty.
To create a true fan you need to have your customers interests at heart, by having your customers to choose the types of rewards they want you’ll find an increase in brand loyalty, satisfaction and customer loyalty.
Two Birds With The One Stone
Retaining customers by 2% can have an impact of reducing costs by 10%, having brand loyalty is vital to staying competitive. While your customers will be delighted with their new found brand loyalty and the rewards they get for being so, your competitors will be frustrated as you take more market share at a lower cost while they struggle to retain customers.
Remember Loyalty programmes aren’t something to be taken lightly, you need to have the right tools in place in order to make the successful. You need to be able to reach your customers on a number of mediums, have control and data to measure results.