Savvy marketers are ever attentive to their loyalty programs …. why? Much research has proven that profits earned from existing customers far out-way profits gleaned from new customers. Hence, it is vital to continuously recognise and thank your loyalty customers. With consumers adopting a more omni-channel approach to shopping and dining out, a mobile loyalty reward program provides immense gain for both the consumer and the business owner. Currently, people searching on smart phones and mobile devices are doing so in record numbers, ever ready to avail of your special offers and rewards!
Loyalty programs have evolved greatly since the use of; tokens, saving stamps, punch cards, plastic cards etc. However, the end goal has remained constant: to retain existing customers and incentivise them to repeatedly return to your business/service. A strategic loyalty campaign is the perfect marketing tool to achieve just that! Its simple to setup, its cost effective and provides for real-time communication to create maximum impact, thus resulting in conversions, conversions and more conversions 🙂
Recent statistics show a whopping 96% of respondents to loyalty programs had visited a restaurant in whose program they were a member in the last six months!
Loyalty programs can be as creative and versatile as desired i.e. rewards, future discount, points coupons, freebees etc. Also, you can incorporate a link into your message.
Measuring the Effectiveness of your Loyalty program
As with any marketing initiative, it is essential to measure success rate.
Three Key Elements :-
Customer Retention Rate: How long customers stay with you. According to researchers, a 5% increase in customer retention can lead to a 25-100% increase in profit for your business!
Redemption Rate – What percentage of your subscribers redeem your offers.
Churn Rate – How many customers leave your SMS loyalty program monthly.
By measuring these key metrics, you can adjust your SMS loyalty program accordingly to be more successful with future campaigns.
An effective loyalty program CAN and WILL work for you! Contact Trevor or John on 087 550 5108 or email firstname.lastname@example.org and we will assist you in setting up your first SMS loyalty program.
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