In this modern era, traditional loyalty and reward programs have lost their appeal as customers tend to look for instant gratification for their purchase. There is a need for a more engaging strategy that is more appealing and beneficial to customers that will keep them coming back to your business. Customers need to feel that their every action is rewarded.
Thus, the key to a successful Loyalty and Reward program is engaging with your customers. Customers want to feel that joining your program gives them value, and value results in engagement. Once engaged, your customers can even become your advocates and bring you even more loyal customers.
With TADA Reward, you are free to personalize your reward program to better match your business needs. We let you decide which rewards to give to customers based on their preferences and spending habits through the Sticky feature. While it’s totally up to you, here are some tips and tricks from us on how you can create a more engaging Reward program for your customers.
- Get to know what your customers love
Customers have their preferences: their favorite menu, topic to talk about, or a favorite place. Your rewards need to be something your customers love from your brand. Get to know what they love. You can get this data by using our dashboard and check out the transaction history.
- Spread the news!
It’s not fun if you can’t tell the world that you have this awesome program right? So don’t forget to use your digital channels to spread the news so you can have more loyal customers onboard.
- High Risk – High Reward Tactic
Rewards your customer with something that will bring them back to your business, such as discount e-voucher, or free products available only for a period of time. Using a short expiry date for your rewards can urge even more FOMO (Fear of Missing Out) amongst your customers. This automatically drives the customer to make a purchase more frequently.
- Plan your expense wisely
You might be tempted to give the largest amount of discount to your customer. Though it might be a good strategy in certain situations, that kind of strategy might backfire if you don’t plan it thoroughly. Determine your marketing spend, your CAC (Customer Acquisition Cost), and your profit margin before running this program.
- Test, test, and test
We can’t stress you enough about testing. You might be successful during your first try, but oftentimes you hit a dead end and you’ll need to try different formulas to find the best one. Try different strategies, such as different products, pricing, or description, and determine your winning elements.
TADA has provided many solutions and helped businesses to create sustainability by retaining their customers over the years. If you’re one of the businesses that is looking to increase customer retention rate, look no more because we’re more than happy to help. Contact our team and start your journey with us!
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