Today, customer engagement is the name of the game. It's one thing for a company to have a client base that purchases its products and services, but it's another thing entirely for a business to nurture one that is full of true fans of the brand. These customers have a value on their own, as they not only tend to spend more, but they also play a key role in any marketing strategy by recommending an enterprise to their friends, family and co-workers. Engagement is not just about galvanizing individual clients to spend, it's about the far-reaching effect their enthusiasm can have.
Incentive programs featuring premium discounts can factor heavily in customer engagement when done right. Because many people use a wide variety of services in their everyday lives, from the stores they shop at to the bank they use and beyond, it's important that marketers ensure that the loyalty rewards presented are unique, valuable and relevant. When clients are struck with the sense that a reward was truly meant for them, they're likely to feel more positively about a brand.
Play it cool
According to a recent study by Maritz, most consumers in today's highly technological world recognize that to get the benefits they want from a rewards program, they need to relinquish some of their personal data. And when they do, the source emphasized that businesses can harness that information to provide customers with exciting premium discounts and rewards, enhancing engagement in the process.
When asked what they would consider "cool and exciting uses of personal information," 69 percent of respondents to the survey said they'd want to receive customized discounts for their favorite products and services based on their purchasing habits. Additionally, 62 percent would want to be able to manage and update the types of personalized rewards they receive, while 51 percent were interested in receiving deals based on their current location.
Forbes emphasized that marketers must take these preferences for highly tailored rewards into account when attempting to enhance engagement. To start, the source stressed that marketers must be aware of their audience: It's no use to provide discounts that aren't useful for a certain demographic, as this can be bothersome to the customer and results in poor ROI. Therefore, you should build rewards programs that feature relevant discounts your customers will value.
Additionally, the news provider noted that businesses must make themselves indispensable to their clients. When customers feel that they are getting added value that they wouldn't find elsewhere, they are more likely to remain loyal to a brand. Enterprises in all industries must prove their worth in a way that will be meaningful to their unique clients. Developing strong knowledge of an audience and its wants can go a long way to developing rewards programs that truly resonate.
Increasingly, customers want to participate in loyalty programs that feel as if they were made for them, and they're willing to give their favorite brands the information they need to create unique initiatives. Premium rewards that are customized based on a client's purchase history, location, vital statistics and more are likely to strike a chord, driving engagement, spending and ongoing loyalty.