When you want more leads, you know what to do: launch a new email or ad campaign, exhibit at a trade show, make more sales calls, and so on. But when you want to boost your customer retention and loyalty, how do you do it? One option is to start adding incentives for engaged customers.
Higher customer engagement can give your business a big boost: more repeat sales and renewals, more brand advocacy and word-of-mouth marketing, more product knowledge and usage, and yes, even more leads.
Before you get your rewards program off the ground, here are some statistics to show you how critical (and effective!) incentives for engaged customers are.
Now that you’re truly convinced and ready to get started, check out these five tips and resources to make sure your rewards are as successful as possible.
As you build your incentives program and decide how it will be structured and what rewards you’ll give, it can help to look at the big picture. Check out consumer trends and economic conditions that might give you some insight into your industry and customers. Here’s a roundup of some relevant ones.
In addition to researching current trends, it’s also a good idea to take a look at how others are using incentives for engaged customers successfully — especially if it’s a new strategy for you and your team. Here at BHN Rewards, we have years of experience working with our customers on all kinds of programs, not to mention integration partners leading the way in engagement. Consider this advice as you implement your own incentives.
Launching and maintaining any loyalty or rewards program can seem like a big lift, but by leveraging the right tools, you can streamline the process. Automation, flexibility, and reporting are all key capabilities. You should also look for tools that can handle cross-departmental collaboration, since incentives for engaged customers are likely to involve your marketing, sales, and customer service teams. Here are more resources on what’s most important.
Remember those tactics for attracting more leads? Well, incentives for engaged customers can actually help you there, too. Rewarding loyalty and advocacy results in more referrals, better online reviews, and stronger word-of-mouth marketing. Check out these best practices to get started.
Automation tools may let you set it and forget it, but you should still revisit both the data and the processes behind your rewards program. That allows you to look at any possible issues and explore any optimizations you can make to maximize its effectiveness. Consider these best practices and solutions.
Looking to optimize your entire customer engagement strategy? Read our blog for more do’s and don’ts!