“As a customer’s relationship with the company lengthens, profits rise. And not just by a little. Companies can boost profits by almost 100 percent by retaining just 5 percent more of their customers” – F.P. Reichheld
At the heart of Client Engagement Marketing is an appreciation for your clients and the recognition that the key to successfully growing your business lies with building long term relationships with them. A tailored loyalty program can certainly enhance that relationship.
Let’s look at the sound business logic here.
You are a business owner who has developed a business that provides superlative service and products that meet the needs of clients you have taken the time to deeply understand.
You know that it is far easier and less expensive to grow your sales with repeat business than it is to attract a new client. And you know that happy clients who feel understood and appreciated and well looked after are likely to become advocates for your business – a second sales force who hand out referrals for you.
So, when you think about it, investing in the development of a loyalty program makes great business sense!
Client Loyalty Programs should begin as Client Nurturing Programs
We actually believe a loyalty program should begin from the very first time a client has contact with you – before they even make a purchase. This is a Nurture program – providing a welcoming, valuable and positive experiences from the initial enquiry that a potential client makes begins to build the know, like and trust factor that is so important in client engagement.
And the loyalty program itself, once they do become a happily engaged client, should be tailored to your understanding of them and linked to your own business values.
A great example of this is with one of our Queensland clients, Vet Cross. This fabulous team of animal lovers are committed to preventative care for the life of your pets and encourage their clients to adopt the same philosophy. From this value came the Complete Care Club that we worked with them to develop. The CCC provides a life long discount on every preventative care treatment from worming and vaccination to flea powder and desexing. That’s a great example of building your own values right into your loyalty program – Vetcross know the clients that are engaged in the Club share their core values and will be committed to the practise for the long term.
What’s at the heart of an engaging loyalty program?
Of course it’s not just about discounts and points. A sustainable loyalty program builds profitability and encourages advocacy and commitment because you have tapped into what’s really important to your clients. Their perceived value of the special treatment or recognition that you provide them with is the key – “hey, you really understand me, I’m not just another customer!”.
That can be as simple a stylist at a Hairdressing Salon noting exactly how you take your cup of coffee and making sure it’s perfect the next time you visit.
Sometimes it really is the little things that make a big difference. We’re big fans of building “surprise and delight” moments into your client engagement.
Consider a loyalty program to be multi-faceted, an integral part of your customer charter where you build trust and demonstrate appreciation.
How can we help?
We can work with you to develop an integrated loyalty program that builds an engaging, rewarding and profitable relationship with your clients.
Things to think about include:
- Your objectives – what measurable outcome are you seeking?
- How will you structure the program? What are the essential ingredients?
- Will you involve any other companies or alliance partners?
- How will your staff be involved?
- How will and when will you introduce the program to your clients?
- How will you track its effectiveness?
There’s a lot to consider, but we’ll bring some fresh ideas to the table and our collaboration will soon see even happier clients engaged with your business!
Call us on 1300 998 558 for a chat.