Rewards Program Adds Perks To Home Buying – Loyal customers are undoubtedly one of the most valuable assets any brand can have. Not only are current customers more profitable than acquiring new customers, but loyal customers typically spend more and generate larger deals. In fact, 57% of consumers spend more on brands they are loyal to.*
Running a successful customer loyalty program isn’t always easy, but it’s one of the best ways to attract, engage and satisfy your customers.
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Read on to discover the importance of customer loyalty, see what customers look for in loyalty programs, and learn from brands that are doing it right. Or jump to our infographic to learn the best practices of customer loyalty programs.
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70% of Macy’s transactions in 2021 were related to its loyalty program.* The company said more than 3.5 million new members signed up for the lower tier of its Star Rewards program in the last quarter of 2021 alone.
A customer loyalty program is a strategy designed to support repeat business where a brand offers its customers rewards, discounts and other incentives to attract and retain their business. These programs are designed to build loyalty, and it pays off when done well.
In fact, studies have found that 75% of consumers prefer brands that offer rewards programs.* Because consumers get something beneficial from their continued business, this gives them an added incentive to stay loyal to the brand.
A points-based program is the most common type of loyalty program. They allow customers to collect points with their purchases, which they can redeem for free products and other benefits.
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Some points programs even allow customers to earn points in other ways, such as leaving reviews, sharing posts on social networks, birthdays, etc.
A tiered loyalty program is where a customer receives different benefits depending on their rank. The higher a customer ranks, the better their reward.
To level up and earn exclusive rewards, customers need to buy and engage more with the brand. The businesses then rank their customers based on sales and engagement metrics.
A paid loyalty program is when a customer receives immediate and ongoing benefits after paying a recurring or one-time fee. If a company can convince consumers of the value of its program, it can build higher customer value.
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A 2020 survey reported that consumers are 60% more likely to spend more on a brand after signing up for a paid loyalty program.* When a customer pays for loyalty companies, they want to get as much out of the program as possible.
A value-based loyalty program is when a business donates a percentage of its sales profit to a charity or organization instead of offering the customer a reward.
This is a great way for brands to adopt advocacy on various social, environmental and economic issues. The reward for the customer is the knowledge that his contribution in purchasing the brand goes to something that benefits the company.
Brands are not limited to using one type of plan. A combination of different strategies can be an innovative way to earn customer loyalty and make the loyalty program unique and effective.
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While loyalty programs are a great way to keep loyal customers, they are also a great way to acquire new ones. In fact, 75% of consumers say they would switch brands for a better loyalty program.*
For most people, coffee and other caffeinated beverages are part of the morning commute, so they might as well join a loyalty program that rewards their caffeine cravings.
The Starbucks Rewards program does just that by bringing customers closer to free drinks and food with every purchase. To earn loyalty points (or, in the case of Starbucks, loyalty stars), customers must order or pay using the Starbucks app. They can then redeem these stars to get free drinks, food and even Starbucks merchandise.
Not only is this easy and convenient for customers to use regularly, it also allows Starbucks to gain valuable behavioral insights and analysis. From drink orders to seasonal favorites, Starbucks can gather information about all of these habits, allowing them to offer more relevant rewards to their customers.
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In the outdoor apparel and gear industry, it’s fair to say that most of their customers value experiences over material things.
The North Face allows its loyal XPLR Pass members to earn points by purchasing merchandise or attending special events, whatever fits the specific customer’s lifestyle.
When it comes to redeeming their points, customers can use their points for unique travel experiences, such as a mountaineering trip in Nepal.
Not only that, but the XPLR Pass gives customers early access to limited edition collections, exclusive access to products not yet available to the general public, and members-only field testing to allow customers to test products to make sure they’re right for them. my needs.
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Rather than offering basic discounts, The North Face curates experiences that help build a stronger connection between the consumer and the brand that speaks directly to its target market.
While earning points in exchange for discounts and free products is effective, adding a tier program helps heighten the experience by getting customers to spend new levels of higher benefits on the brand.
The Designer Shoe Warehouse (DSW) loyalty program is the perfect example of a successful tiered program. By spending more, customers gain access to higher tiers that provide exclusivity for certain products and services.
This motivates their customers at lower levels to spend more so they can reach the higher levels of exclusivity.
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DSW even went a step further by launching a personalized email campaign detailing customers’ current entitlements, how much they’ve saved since becoming a DSW VIP member, and how many extra points they’ll need for their next reward.
With Sephora’s Beauty Insider program, customers can earn points on every purchase they make and redeem those points for rewards of their choice—usually in the form of samples or exclusive merchandise—through Rewards Bazaar.
Not only can members choose their rewards, but they also get access to the Beauty Insider community, where beauty enthusiasts can share tips, advice and all the new products they love.
With its tiered structure, customers can earn better and better rewards for their loyalty, even gaining access to exclusive events at the highest level. In addition, higher level customers receive greater discounts during sales events.
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Sephora’s online beauty community adds an emotional element and strengthens customers’ connection with the brand. This makes the whole experience more valuable for its customers and thus more successful.
Although the ride-sharing industry is fairly new, Uber has taken the industry by storm. They offer a variety of services that meet each individual’s specific needs, as well as a very valuable loyalty program.
When you become an Uber Rewards member, you earn points with every eligible dollar spent on UberEats rides and orders. These points can be added to Uber Cash Rewards and other benefits such as priority pickup and flexible cancellation.
The more points you rank, the higher the membership level, which unlocks even more rewards and benefits. Their plan is designed to offer users a number of benefits that allow them more time, flexibility and control – leading to a better customer experience.
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Whether you’re a frequent business traveler or you love to travel, joining an airline’s customer loyalty program is a must. While virtually every airline has a rewards program, Alaska Airlines’ award-winning mileage program does the best.
Alaska’s miles program is a tier-based program that allows customers to earn miles, experience award travel, and earn their highest tier MVP Elite status faster than any other airline.
From two free checked bags to preferred seating, Alaska Airlines makes it quick and easy for their customers to enjoy exclusive benefits while traveling.
From flights to hotel rooms, Expedia offers a way to save money while traveling. With their rewards program, Expedia Rewards, members save an average of $35 per booking with the points they earn.
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The more you travel, the more points and rewards you’ll earn in their three-tiered program. From 10% savings with Blue Member status to free upgrades and spa credits with Gold status, customers can get luxury travel benefits at an affordable price.
Because customers can earn points every time they book a service, it’s easy to collect them and reap the benefits, encouraging them to stay loyal and book with Expedia for all their travel needs.
If there’s a fast food restaurant that knows how to increase sales, it’s Chick-fil-A. With sales of $13.7 billion in 2020*, other brands may be wondering how to do it.
Much of their success can be attributed to their loyalty program, Chick-fil-A One, which boasts 13 million active users.* With its enticing benefits like free treats, convenient travel experiences and opportunities to win exclusive prizes, customers keep coming back for more.
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Chick-fil-A also uses their app to gain insights into customer data and feedback so they can provide an equal experience to their customers.
A well-known paid membership program that has completely changed the game is Amazon Prime. Paying an annual fee, Prime members
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