We are seeing a rapid rise in the number of online businesses, which is making the competition even more formidable. Therefore, customers have the right to be picky and choose only the businesses that bring them the most value. Wise businesses always care as much about their loyal customers as they do about getting new ones. This is because it often costs more to get new customers than to keep the ones you already have.
So keeping a good relationship with your regular customers is essential, and one of the most effective ways to do that is to organize carefully crafted loyalty eCommerce membership programs. Here is a list of five effective ways to set up a loyalty program for your eCommerce business.
The point program is one of the most common loyalty programs. It is all about earning points and spending them later. The point system is quick to implement and easy to manage, making it ideal for those who want to launch quickly.
For example, Starbucks rewards its customers with stars for each order made through the app. Then, customers will accumulate stars to reach different tiers and redeem valuable items.
In an up-to-date approach, your business can give customers points for various interactions apart from purchase transactions, such as sharing product pages, subscribing to a newsletter, and completing their profile.
Tiered Loyalty Programs
The tiered program is popular among many online shoppers since it enables them to progress through the program, getting better perks as they earn more points or spend more money. Higher tiers are associated with more prestige, more privileges, and better benefits.
Tiers show a customer’s status within a brand, so they will buy more to keep their status and are less likely to give up their benefits to start over with a different brand’s loyalty program.
As for perk programs, customers have to pay a yearly fee to gain access to member privileges. This program type is excellent for businesses wanting to make shopping more enjoyable or raise brand awareness.
For example, for $139 per year, members of Amazon Prime gain access to the streaming platform, free next-day shipping, and more.
Subscription-Based Loyalty Programs
If you have a well-established business and deliver desirable services, such as Amazon Prime, you can consider the subscription-based program. Some customers might pass on the membership, and those who opt in will be more likely to engage more with your service and maximize the value of their subscription.
Most corporate eCommerce businesses choose a hybrid-type loyalty program, which mixes and matches elements from the above programs to maximize efficiency.
The Bottom Line
Having loyal shoppers that make repeat purchases is the dream of any eCommerce business. So setting up a proper loyalty program that focuses on the customer experience is what your business should aim for right now. There are various eCommerce membership programs, and each has its own way of retaining customers. Just choose one or more programs that suit your business best. If you don’t know which program suits you best, get help from our experts now!