Why are Loyalty Programs so important?
Customer loyalty is demonstrated when a customer repeatedly purchases from a particular brand. Some examples of loyalty programs are based on Points, Cashback, Tiered Membership and Fee-based Membership.
Loyalty programs are designed to benefit both the company and customers. Wellnex recognises the importance of loyalty programs and enables companies to utilise them as well. Here are 3 main reasons why loyalty programs are extremely important to a company’s growth.
1. More Transactions
It is no longer sustainable to compete based on price alone. Loyalty programs incentivize customers to keep coming back to you. The more they patronise you, the more bonuses they collect. Therefore, they will be motivated to keep shopping with you instead of trying your competitors, and you can expect a constant stream of sales.
Another benefit of loyalty programs is being able to show gratitude to your customers for their support. By connecting with their emotions, you are distinguishing your brand and offering a much more personal customer experience. A thank you note and a discount at their next visit can certainly give first-time customers a good impression of you and spur them to visit you again.
3. Collect Valuable Data
Loyalty programs are also a way for companies to collect basic information about their customers for marketing purposes. To be a Wellnex member, one has to fill up a quick 1 minute questionnaire about oneself. You, as a business, can then leverage on these data for effective communication that is personalized for different segments of customers.
Loyalty programs are a win-win situation for your business and your customers. If you do not have one yet, it is time to consider implementing a loyalty program to build relationships with your customers and ultimately boost your sales and brand. Alternatively, you can join Wellnex which comes with a built-in loyalty program. Whatsapp us at 9827 1575 to find out more!