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19 ways a loyalty program can benefit your business

m—wise is celebrating 19 years in loyalty this year. To mark the occasion, we’re sharing 19 ways a loyalty program can benefit your business. Ready? Let’s go!

1. A retention rate to be proud of

It’s easy to identify customers who haven’t made a purchase or interacted with you for longer than you’d like. Offering a win-back voucher can make them fall in love with your brand all over again. Get ready for a supercharged retention rate.

Win-back voucher for free smoothie

2. Customers keep coming back for more

Want more repeat business? An effective loyalty program encourages your customers to make repeat purchases with you (rather than your competitor) because the benefits are just too good to miss out on. When your loyalty program is so rewarding, it just makes sense to stick with your brand.

3. Referrals inspire more business

Incentivising friend referrals is a guaranteed way to attract new sign-ups and drive sales too. Offer a discount for both referring and new members to see supercharged acquisition.

Friend referral offer

4. The right message at the right time – every time

Eliminate the guesswork. Campaign data will tell you everything you need to know to make your messaging more effective. Soon you’ll be sending the right message at the right time to the right customer and on the right channel too. Your open rates will say it all. Check out A marketer’s guide to getting value from your customer data for inspiration.

5. More relevant campaigns bring more conversions

Using customer data to personalise your messaging drives conversions through the roof. The data generated via your program’s sign-up form or single sign-on technology, along with click/purchase behaviour, can power highly relevant campaigns across all channels.

Social log-in via app

6. Maximised revenue with personalised recommendations

Personalised products or service recommendations makes the path to purchase shorter and the customer life cycle more profitable. Salesforce Marketing Cloud can be a game-changer here. Its Einstein AI capabilities can recommend the best products for each individual.

7. A more intimate (and profitable) relationship

Personalising your messaging also helps you build a 1:1 dialogue with each customer. They start to feel that you just get them and understand what they like. Next thing you know, your brand is their go-to before all others.

Personalised product recommendations

8. Stay ahead of the competition

A loyalty program enables you to keep your business one step ahead by reinforcing the added value that your customers won’t get elsewhere. Keep up the momentum with engaging content and enticing benefits for your members.

9. Rising order frequency

When your company is top of mind,  the only way is up for order frequency. A loyalty solution that helps you reach your customers with sophisticated messaging over multiple channels, such as social media, email, geo-targeting and push notifications, is an absolute must.

Geotargeting notification on Apple Watch

10. Higher potential for organic growth

No need to allocate marketing or ad spend when you want to launch a high-impact campaign. Drive sales at the click of a button with an enticing email or push message to your existing members without spending a cent.

11. Your customers become brand advocates

By rewarding your customers for leaving a review or sharing on social media, you’ll quickly see word-of-mouth business increase. Incentivising testimonials can build up a real buzz around your company and your products/services.

Leaving a product review for loyalty program reward

12. Know your most profitable customers

Profiling your best customers becomes easier and more reliable. You’ll be able to create segments of high-value customers to target accordingly. Rewarding your best customers with more frequent offers or vouchers is a tried-and-tested revenue driver.

13. Higher customer lifetime value

Member-only offers, sales or perks are a great way to stimulate frequent and repeat purchases. This can lead to a much higher customer lifetime value overall. For maximum impact, incorporate surprises to trigger spontaneous purchases.

Member only flash sale

14. Marketing intelligence for a stronger market position

Who are your customers and what are they looking for? The answers are at your fingertips thanks to the data generated by your program. This marketing intelligence can seriously strengthen your market position overall.

15. Performance insights for high-impact campaigns

Seeing which offers, rewards or communications your members respond to best is a great way to understand what they value. This information helps you optimise your future campaigns to keep sales going in the right direction.

Data dashboard for campaign performance

16. The power to influence sales

Need to boost sales in an underperforming area? It’s easy to create a segment of the customers likely to buy based on their preferences, click behaviour and past purchases. Create a high-impact campaign by directly targeting those most likely to buy.

17. Higher average spend overall

Reminding your customers of a benefit they’re close to receiving is a strong motivator when it comes to basket size. Setting tier levels or point thresholds for added benefits and perks is a great way to raise the average spend.

Loyalty Program points balance

18. Greater engagement across all channels

Rewarding members for non-transactional activities — like opening your emails or liking your social media posts — will send your engagement rates. See how brands are using non-transactional rewards in their loyalty programs.

19. A customer experience to love

Every interaction with your brand influences how a customer feels about your company. Your loyalty program is an opportunity to strengthen the customer experience with a stream of rewarding and engaging interactions. Make it happen and watch your business boom.

Instagram like

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