Every business aims to grow, and having a loyalty program to retain customers is a key aspect to achieve this. Find out which type of strategy best suits your business and ensure the future of your company in the medium and long term.
Much of what digital marketing takes comes from other disciplines and this case is no exception. Are you wondering what we are talking about when we say loyalty program ? Let's start from the beginning.
The behaviourist theory of psychology holds that the human mind cannot be studied. What can be examined, however, is how people react to different stimuli.
Based on this basis proposed by this branch of psychology, loyalty programs are based on generating stimuli in exchange for a specific reaction. In other words, it is about providing rewards phone leads in exchange for customer loyalty .
The loyalty program, which many companies include in their marketing plan, is essential to achieve a scalable business. If you are looking for resources to help your brand make its way in the medium and long term, you are in the right place. Keep reading!
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What is a loyalty program?
A loyalty program is part of a customer retention strategy, the goal is to reward regular buyers. Rewarding repeat customers creates a sense of belonging to the brand, recognition and, of course, loyalty.
Building a repeat customer base is essential for a company's growth in the medium and long term. People choose to buy from a brand again for different reasons, such as the company's philosophy, values, product quality or price, among others.
However, to encourage people to come back again and again, brands can implement loyalty programs . These types of strategies rely on offering exclusive rewards based on purchasing behavior, whether it be discounts, prizes or financing.
Read more: How does cashback work? 4 steps to customer loyalty
What types of loyalty programs exist?
There are different ways to generate strategies to retain buyers based on their loyalty. Let's see which are the most popular customer loyalty programs and choose the one that best suits your business!
VIP Membership
Many people abandon their shopping cart just before making the payment. This is due to the increased cost of taxes or shipping. With a loyalty program that includes a VIP membership in advance, you can solve this problem.
By paying a fee annually, customers lock in the price of shipping or taxes. This ensures a hassle-free purchase and reduces costs at the time.