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How To Solve The Biggest Problems With Loyalty Program Enrollment
Boulder, CO, October, 2016 — Customer Insight Group, an industry leader in customer rewards programs and loyalty programs, shares how to solve marketers biggest problems with attracting new members long after the initial loyalty program launch has ended.
Loyalty programs have two foundational components: enrollment of new members to activate their participation in the loyalty program and the registration process that collects key information that can be used to create relevant, and meaningful sales, marketing, and customer support experiences across all channels to more effectively attract and retain high-value customers. Both components are equally important, but enrollment gets the ball rolling and provides your business with a way to identify and track customers and their interactions across multiple touchpoints; in person, online, at a kiosk or in social media.
“Loyalty is not about short-term promotional tactics or a points program that are launched today and forgotten tomorrow. It requires a set of ongoing customer interactions to attract new members and to consistently exceed the needs and expectations of the customers,” said Sallie Burnett, president of Customer Insight Group, Inc.
The truth is that increasing loyalty program enrollment is hands-down one of the most long-term, profit-generating investment you can make.
Afterall, loyal engaged customers can make a big impact on the bottom line. Customer engagement — which Gallup describes as a customer’s emotional or psychological attachment to a brand, product, or company — is the definitive predictor of business growth. In fact, a recent loyalty study revealed that engaged consumers buy 90% more frequently, spend 60% more per transaction and are five times more likely to indicate it is the only brand they would purchase in the future. All of these factors lead to engaged customers delivering three times the value to the brand over the course of a year. That’s the good news.
The bad news is … marketers are missing out on the opportunity to enroll customers in their loyalty program. That’s why Customer Insight Group is sharing 3 proven strategies marketers can start today to sustain membership growth.
1. Promote the Program as if it were a Key Profit Center
Customers cannot participate in something they know nothing about. Create a catchphrase that explains the loyalty program’s benefits, creates excitement and is readily remembered. Across every touch point, from your mobile app to email, social media, to your website, IVR and point of purchase, use the catchphrase to convey a simple, consistent message to encourage customers to join your loyalty program. Make enrolling quick and easy. Consider asking for an email address initially and then request more information with your welcoming email. When the member logs in they can tailor the content and frequency of emails and you can ask questions to create a detailed member profile.
2. Ask Members to Refer a Friend
No one is better qualified to spread the word about the benefits of belonging to your loyalty program than your existing members. By leveraging existing members, you can increase brand awareness, develop strong customer loyalties and facilitate peer-to-peer recommendations. Member refer a friend incentives are a great way to show your appreciation and celebrate brand advocates. Flex your creativity and come up with contests and fun challenges to encourage member referrals. Depending on your company, culture and budget, you may want to plan quarterly refer a friend promotions.
3. Employee Contest Make Growing Membership Enjoyable
Make sure that employees are trained and prepared to talk about the program with special emphasis on delivering a relatable “elevator pitch” about the benefits of joining. Provide a cheat sheet, and promote a catchy slogan that summarizes program benefits. Contests and chances to earn significant rewards held once or twice a year will fire up enthusiasm among your staff to grow member enrollment. However, make sure that rewards are based on enrollment and registration metrics instead of enrollment numbers alone because this is the true measure of the success of the drive.
Build Membership Enrollment
To learn more about implementing enrollment strategies to drive your loyalty program success, contact us. Sign up to receive Customer Insight Group’s newsletter for more proven loyalty program improvement tips.