The business world is evolving rapidly, and new businesses are rising. In recent statistical data, it has been observed that around 1.5 lakh new companies are registered every year. Still, similarly, another data found shows a heartbreaking truth: around 1 lakh companies close down their businesses per year. Therefore, survival is getting tough in the fierce brand battle. The condition is even more terrible for small businesses as they have a limited customer base and a regional brand image. Therefore retaining the limited circle of loyal customers becomes a crucial role for small business owners, and thus loyalty rewards programs are rising among them.
We all have heard about myriad customer loyalty programs performed by multinational giants to retain their vast customer base. But similarly, these programs can also be applied in the case of small businesses.
Many small business owners are sceptical about incorporating customer loyalty programs as they are not sure about their utility nor know the process. Furthermore, the ideas of loyalty programs used by big corporations might not yield meaningful insight in the case of small organisations. Each business line uses its customised programs to attract its unique customer base. Here we will be giving you some valuable tips to add loyalty programs in innovative ways to proper your small business organisation.
Connect With Your Customer On Social Handle
These days everyone is active on social media, and Facebook is one of the biggest platforms for marketing. Use this tool to connect more with your customers all the time. If you still don’t have a prominent social presence, it’s the right time to be active. Connect with your customers through your company’s social page, engage with them more & more and post updates regularly. Plan for some online competition on Facebook and invite your consumers to participate in it. And give rewards to the winners and runners up. In this way, customers will be more engaged with your brand, and your social media presence will expand.
Encourage the winners or participants to share it within their circle. This will expand your limited circle and attract new customers.
Add Your Customer To Your Email Circle
Often, small business owners don’t utilize email notifications, but it is a powerful tool if you utilize it properly. First, ask your existing customers to provide their email addresses and add them to your email list. Then, every time you can share a new update through their email, like any new offers, discounts, or some new arrival or stock clearance sale, all can be updated through the email. To encourage your customers to share their email details, you can opt for some innovative ideas like a special 10% discount on the next purchase for those who subscribe to your email notification. You can offer some special deals to your already subscribed customers so that they can feel appreciated and engage more with your brand through email.
This option is suitable for hotel/restaurant/ cafe owners. If you have any physical store, enlist yourself in google location and encourage your customers to use the check-in option on social media whenever they attend your business. By checking into your restaurant or cafe, they will let their social friends know about your existence. This will increase your online presence and will help to generate more leads. Offers some exclusive rewards to those who will check in your business on social platforms. Plan some online loyalty games like quiz games on social media. The lucky draw winner will receive a 50% discount on a couple of dinners. While checking in for dinner, encourage them to share the game & winning details on their respective social handles for the world to see.
There are various programs that you can apply to retain your valuable customers. Apart from the options mentioned above, you can also opt for a QR code rewards program by placing a scanner at your business location & insisting customers pay online and offering them loyalty points on every QR code payment. Loyalty programs are not expensive yet yield good results; if you are confused about customer loyalty schemes, we can give you an excellent customized solution for your small business.