How is your loyalty program performing?
While it might not be a make or break reason for your customers to visit your store, customers do enjoy the benefits that loyalty programs provide.
If your loyalty program isn’t performing as well as you hoped, here are a few suggestions for revamping it.
1. Get feedback on what is and isn’t working
Before you make any changes to your program, you’ll want to gather feedback, comments, and suggestions from your customers. You could start by asking your customers shopping in store who are a part of the loyalty program what they like and dislike about the program. Surveys are another great source of information. You could create a short survey for your customers to take online. You could also promote the survey via email and let your email subscribers know that you’d love their input too. Also, don’t forget to reach out to your mentors and friends in the industry for their advice. Their opinion may be just what you need to revamp your loyalty program and create something even better.
2. Research what your competitors are doing
Are your competitors running a successful loyalty program? What are they doing that’s working? Maybe they have a points system that works well for their customer base. Or maybe they offer a coupon for a percentage off their customers’ next in-store purchase. Your loyalty program will depend on whether you have a brick and mortar store or online lingerie boutique or both. Ultimately, you need a program that appeals to your customers and gives them another incentive to shop with you, so consider pulling inspiration from your competitors if you see things that could work for your store too.
3. Determine what needs to be changed
Once you’ve analyzed the feedback and created a list of the perks you’d like to offer, it’s time to determine what you’re going to change. Perhaps you need to upgrade the benefits or advertise different incentives (like personal bra fitting parties for your high spend customers and monthly coupons for your low spend customers). As you make note of things you’d like to change, ask yourself if they’re in line with the interests of your customer base and your mission and vision as a company.
4. Choose a date for the changes to go live
You may decide to wait until after the holiday season to make changes to your loyalty program. Alternatively, offering cash back, referral incentives, or a free gift with purchase may make sense now. You know your business better than anyone. When you’re ready to finalize your new loyalty program, choose a date for the changes to go into effect and then notify your customers of any changes to the program.
5. Track, analyze, and continue making it even better
Now that you’ve made the changes, notified your customers, and officially launched the new and improved version of your loyalty program, you’ll want to start tracking the results. Separate the emails that you send regarding your loyalty program is key so you can track the stats as the program gains traction. Be sure to segment your emails and use unique promo codes for anything related to your loyalty program. Continue to ask your customers for their feedback in store. What do they like most about the changes? How is it performing sales-wise for your business? And then review the program annually to see if anything needs to be adjusted.
With the year coming to an end, it may be a good idea to start thinking about ways to make your business even better in the new year – loyalty program included. We hope this article gives you a few ideas for improving your loyalty program. Let us know in the comments below if you’ve recently revamped or launched your loyalty program. We love hearing from you!