Customer Loyalty Schemes
Take the hassle of implementing and managing a loyalty scheme away from your business. Our reward platform can be fully branded to create a seamless customer experience. We make choosing and redeeming a reward simple for your customers.
Retain existing customers
The effect of the customer retention rate on actual bottom-line customer numbers cannot be over-estimated. In five years, a firm with a 70% customer retention rate will have lost two to three times as many customers as a firm with a 90% retention rate.
Not only does a loyalty scheme provide a practical, hard reason for continuing to buy (the accumulation of points toward a reward, or higher levels of service) but it also provides information about the customers that allows their needs to be met more efficiently and effectively.
This in turn makes them more likely to remain customers. In addition, loyalty programme operators often report that, once a customer starts redeeming rewards, enthusiasm and engagement both increase.
Increasing customer retention by 5% can lead to an increase in profits of 25-95%.
Acquire new customers
A loyalty scheme should attract new customers to the business, how effectively will depend on how exciting and how valuable the rewards seem to be to the target audience.
Acquiring customers is no doubt essential to any business, but it can be expensive if compared to nurturing existing good customers. It should not be the central focus of a loyalty scheme; there are cheaper and more effective ways of acquiring customers. However, it is generally far more profitable to retain and up-sell existing customers than to attract new ones.
Create your own branded loyalty website
We create for each client their own company branded and themed Customer Loyalty reward website which is easily accessible on mobile, tablet or desktop computer. Designed to be engaging, fun and intuitive so that your loyal customers are excited to keep buying your products and services to earn even greater rewards.
A username and password are issued for security and the user is welcomed to their account with custom messaging, they can browse to see how many points they have earned and where they can choose their rewards.
Dedicated support & aftercare
A friendly dedicated account manager is responsible for each scheme, participants can contact them directly via the website or can email or phone them directly. They are on hand to answer any queries and to provide a first class user-experience.
The scheme offers the ultimate in flexibility to reflect changing priorities and include the ability to easily and instantaneously add or amend reward point criteria to change the amounts points awarded to products or categories.
Our clients also have direct access to the platform administration, so they can upload images, messages and other updates to drive engagement and topicality. There is also a suite of Management Information tools available to easily help review the ROI from the scheme.
What can a points-banking customer loyalty scheme achieve?
Win-Back Defected & Churned Customers
The success rate in approaching ‘lost’ customers can be three to four times as high as it is when prospecting for new customers. For example, the rate for converting prospects might typically be 5%, while that for reactivating inactive customers might be as high as 15-20%.
Increase Customer Lifetime Value (CLV)
CLV is increasingly being recognised as one of the most important measures of the worth of a customer. It takes into account not only the customer’s value now but the expected value over their projected lifetime as a customer. It's arguably the best way a marketer can demonstrate unequivocally that a programme is working.
Move Customers Up-Segment
By grading rewards (for example, offering extra points for exceeding a specified spend threshold in a time period), customers can be moved up from one spend level to the next.
Best Customer Marketing (BCM)
Simply put, BCM involves spending more time, effort, and money on your best customers in order to maximise the return on marketing investment.
Create Brand Advocates
Advocacy is one of the highest forms of loyalty that a customer can show. Advocates are so satisfied and pleased with your offering that they tell their friends and associates.