Do you own a business?
If yes, then we have a question for you.
Would you prefer spending more time on acquiring new customers or retaining your existing ones?
Statistics show it costs 5 times more to acquire new customers than engaging and retaining the existing customers.
And yet, many businesses spend their time and money on attracting new customers.
Besides this, when you form a relationship with your customers, they are likely to spend 67% more than the new ones.
We guess it’s enough to show you how important customer engagement and retention are.
Value what you have, i.e., Value your existing customers.
In this ever-evolving world, brands frequently launch newer and more competitive products. This leaves customers with a plethora of options to choose from. So it’s important to catch their attention and build trust and relationships so that they keep coming back again and again.
A simple solution to this is through Customer Engagement & Loyalty Programs. We all have heard about them and might be enrolled in at least one of these programs.
Loyalty programs are a device to engage your customers with your brand and establish a long-term business by offering them incentives like gift cards, coupons, discounts, free delivery, rewards, free services, or even an advance release of new products.
There are 6 kinds of Customer Loyalty Programs that businesses have managed to create so far:
- Point-Based Loyalty Program : This is one of the most common programs in which customers earn points that convert into some rewards, such as a cashback, discount code, or a special offer. These programs are suitable for businesses that promote short-term purchases. The Times Group’s loyalty program is an ingenious program where readers earn points for the time they spend engaging on their online partner platforms.
- Tiered Loyalty Program : Similar to Point-based programs, these encourage higher commitment and long-term business with customers. The initial customers get rewards for joining the program and are encouraged to make the next purchase. With every purchase, the value of rewards increases. Starbucks has the most successful tier-based loyalty program. They are more suitable for insurance companies, airlines, and the hospitality industry.
- VIP Loyalty Program : Asking customers to pay for a loyalty program? Yes, that’s what Amazon does and has succeeded so far. Customers have to pay a small one-time or an annual fee and avail better discounts and free services.
- Value-Based Loyalty Program : These programs aim to connect with their customers at a deeper level and add value to the lives of their customers, but not in monetary terms. For instance, companies donate a portion of their sales to a certain non-profit organization or help the underprivileged sector of society. Check out Hindustan Unilever’s programs and campaigns.
- Partnership Loyalty Program : These programs add value to your clients, your business, and your partner’s business- a win-win-win situation. The points can be used for all the partner programs- an effective strategy for customer retention and even acquisition. American Express Plenti Rewards has a successful program where customers can translate their points from gas stations to grocery stores.
- Game-Based Loyalty Program : Companies add a touch of fun and entertainment to their loyalty program. This is how a game-based loyalty program works. Companies turn their program into a game where customers get rewards for winning or earning a particular score or they even organize contests. Many use gamification strategies by introducing levels, badges, leaderboards, and challenges. We all love a good game! Again, see how My Starbucks Rewards is doing wonders.
“Loyalty programs show your care for your customers.”
You have selected the type of loyalty program you want but so have many other companies. How can you take it to another level? How can you use them to boost your sales? How can you prevent it from forgery or misuse?
The answer to all these questions is “by using QR-based customer loyalty programs”.
Juniper states that the QR code coupons redeemed through customer loyalty programs will grow by 5.3 billion!
Why QR-based Customer Loyalty Programs??
A touch of Personalization. Personalization indicates your care and attention towards your customers. Hyper personalized QR loyalty programs increase customer retention and result in positive ROI.
- Simple Redemption process
Unlike conventional loyalty programs. QR code-based loyalty programs have a simple redemption process. Users can scan and redeem rewards with WhatsApp, Brand Website/App, Generic QR Code app, or SMS.
- Smart Labels and Coupons
Fake coupons are commonly circulated in the markets. On many occasions, Brands receive more coupons than they actually circulated in the market. QR code-based customer loyalty programs directly connect customers to the brand preventing them from getting duped. This also eliminates the possibility of any misuse.
- Connect & Build Better Customer Relationship
In the end, it is all about forming a loyal customer relationship. Such programs connect you directly with your consumers. You can send custom notifications and engage them through feedback and ratings.
- Configurable & Scalable
QR-based customer loyalty programs are highly flexible and scalable. You can start with a small point-based program targeted at a particular SKU. Then, new SKUs can be added accordingly. It also allows editing or revamping the campaign for the products that are already in the market. With QR-based customer loyalty programs, you can increase your outreach and build a connection with your customers in a more effective and efficient way.
Now, you have implemented the QR-based customer loyalty program. What next? It’s time to capitalize your programs to the fullest. Engage your audience and customers through campaigns and notifications as much as possible.
- WhatsApp Notifications
WhatsApp is one of the most popular Messaging App with over 2 billion users worldwide. It has become an indispensable part of our day-to-day communication. So, you can connect and communicate with customers through WhatsApp.
- E-mail Campaigns
Slide into your customers’ inbox and send customized creatives targeted to selected customers. Promote new products, offers, discounts on existing products, etc.
- SMS Campaigns
SMS Campaigns work great to build your presence. Along with notifications and info about your new products, inform your clients about your loyalty-based programs for discounts.
- Re-Engagement Campaigns
Additionally, you can run campaigns like Refer & Earn, Spin-A-Wheel, etc. that can be targeted to the right set of customers.
It is needless to say, brands can leverage technology through QR-based customer loyalty programs in the best way possible for their marketing needs.
Where to get your customer hyper-personalized effective QR-based customer loyalty programs?
We help you with the best QR-code based customer loyalty programs that fit your requirements and company’s goals. Forming a relationship of trust and loyalty is the ultimate goal of any loyalty program. Our team is dedicated to delivering the best. We continually look for innovation and adapt accordingly. If you want to learn more about QR-code-based technology for loyalty programs and more and how to optimize it, reach out to us. We will help you out.