Recognising and rewarding customer loyalty has become the mainstay of a sustainable business-client relationship. It is an integral part of the overall client experience, especially in the SME and B2B segments. With 95% of the marketers paying attention to enhancing customer experience, rewards programmes are now an indispensable element of business strategy for many SMEs. However, not every loyalty programme works. Despite spending a fortune on designing and marketing loyalty programmes, many of them fail to get the traction that they were intended to. Therefore, is vital to get the basics right. Only then can an organisation build a smart and contemporary rewards programme over a sound foundation. So, what are the principal characteristics of loyalty programmes that work? Let’s find out.
Convenience of Use
There is no dearth of loyalty programmes out there that offer points and credits that have limited use. While the intent behind designing such a loyalty programme is understandable, it can become a pain point for the customers. For being a loyal customer, they get their freedom snatched away. Obviously, this is far from ideal.
With reward programmes like Prosper² Rewards, the customer is re-gifted that freedom. With every purchase they make, rewards points are credited to their account which can then be redeemed or transferred to a multi-currency Mastercard. This card can then be used in a variety of ways. It is definitely much more convenient to the customers. But more than that, the customer appreciates the fact that your company offers a ‘true’ rewards initiative and not another programme to up-sell your own products and services.
Ease of Management
The loyalty programme should be easy to manage. It should be easy to invite contacts to the programme as well as make it effortless to identify new clients who qualify for the loyalty programme. Proper client management translates into happier clients.
With Prosper² Membership Portal, you will be able to perform all these tasks efficiently. This platform is integrated into a CRM system and an invoicing software in the background. Loyalty programmes that are difficult to manage are less likely to succeed.
Security of Data
Data is of the essence when you are running a rewards programme. After all, it is the client’s purchase behaviour that decides whether they get to enjoy the benefits of a loyalty programme or not. So, it is essential for any company to collect and store the customer data properly. Moreover, with regulation on data protection becoming more stringent, it is now all the more critical to ensure the safety of the customer data collected by businesses.
With Prosper² Rewards, companies can efficiently manage this aspect of their loyalty programme as well. Prosper² has created a digital infrastructure that counters all the data challenges for the company. The systems used by them are completely secure and highly robust. They are cloud-based too. Therefore, the possibility of data loss is eliminated with multiple backups both online and offline. Needless to say, the service offers best-in-class quality assurance.
Designing loyalty programmes requires enterprises to consider many factors. However, once these three critical factors have been taken into account, the rest of the programme will fall in place.
So, does your company loyalty programme have these 3 characteristics?