What are the types of loyalty programs?
Loyalty programs are the ideal strategy to win and retain customers, but how to choose a program model? First you need to understand that there is more than one way to build customer loyalty and that you need to choose the one that best fits your business profile and your audience.
Read on to learn about some loyalty building models and choose the best one for your company.
A gamification is a strategy used within loyalty with the goal of making the customer journey more fun. Game elements are used to keep the audience interested in the content created. Rules, points, and tasks are used to create the narrative of the process, providing motivation for the customer to continue following the steps of the process.
This strategy is ideal for generating engagement, and for it to be useful, the public's participation must be completely voluntary.
A new trend in the market Loyalty 4.0 uses technology to generate new experiences for the client. Elements such as hyper-personalization, cross marketing, data, and artificial intelligence are used to create unique communication for each customer.
Loyalty on purpose
Loyalty on purpose is a loyalty strategy where customers are scored, or rewarded, according to tasks, on or off the Internet, that are related to the ideals of the brand. This way, it is possible to attract and keep an audience with aligned values.
This strategy can be done in different ways, aligning the scoring system to the company culture, connecting your products or services to social causes, or donating part of the amount spent by customers - which will encourage repeat purchases.
O cashback is currently the most popular form of loyalty. In this mechanic, the customer receives a percentage of the value of his purchase, this value can be cashed out or used in other purchases. The purpose of this form of loyalty is to give credibility to a company, and encourage the customer to continue consuming.
Loyalty tiered loyalty programs are used to create a loyalty bond. In this program model, the customer moves up a level by performing tasks such as making purchases, posting content on social networks, referring friends, and more. In this type of loyalty each level represents a greater advantage, such as more discounts, special gifts, prizes, and others. Therefore, the more loyal to the brand, the better the benefit received.
Crypto Rewards, Blockchain and NFT
Crypto rewards, Blockchain and NFTs may not sound like loyalty technologies, but the truth is that they can be great allies if used in the right way. It is necessary to understand market trends in order to offer hyper personalized rewards and experiences, so offering crypto rewards is a step ahead of what is expected.
Understand more about how to build customer loyalty in the age of blockchain, crypto rewards, and NFTs in our complete e-book.
It is not only the customers that need to be engaged with your company, but the employees as well. It is not enough for the external public to believe in your purpose, the internal public has to believe in it too. To apply Employee loyalty it is necessary to know who works in the company, offer relevant training and courses, give real feedback, show reliable leadership, and understand the individual demands and needs of each employee.
Indico is a Brazilian Martech company with an experience that has reached more than 150 million customers in 9 countries, that develops solutions to combine Loyalty and Innovation creating unique connections between consumers and brands.
We create solutions that boost relationships and transform results.
Disruptive campaigns, programs and projects that connect ideas, innovation, data and technology to engage, delight and retain customers. We generate data-driven insights and new opportunities, developing the customer experience with the brand.
Contact us to find out how we can create more loyalty for your brand and boost your results!