Have you considered launching a loyalty program?
A loyalty program is an excellent way to gain audience insights while rewarding your most engaged fans.
In this article I’ll explain how to run effective loyalty programs with social media.
Loyalty Program Basics
Loyalty programs are ongoing campaigns that use rewards to create repetitive behavior among your customers. Participants take actions on a regular basis, and the accumulation of those actions is what benefits the company and the loyal audience.
Since user actions must be easy and achievable, it’s better to provide small rewards on an ongoing basis rather than just one big prize for an action that only a few can complete.
Have you considered adding a social component to your loyalty program?
Your loyalty program isn’t just about rewarding customers. It’s about encouraging ongoing communication.
In this article you’ll discover how combining social media with your branded loyalty program can help you reach your campaign goals.
Why Social in Loyalty Programs?
Marketers have long known that the cost of new customer acquisition is significantly more than the cost of customer retention—up to 7x more according to KISSmetrics.
At the Facebook f8 conference earlier this year, founder and CEO Mark Zuckerberg unveiled Open Graph as “the most transformative thing we’ve ever done for the web” and with that announcement, the disparate strands of the world wide web became more tightly woven.
At the time, and to my surprise, mention of Facebook Credits was minimal at best—but as more information becomes available, it’s my prediction that Facebook Credits will be the NEXT major step Facebook takes toward unifying the online experience from simple, social interactions to true social commerce (or when tied to Facebook commerce, labeled as fCommerce).
Could “ethical” bribery be setting your business up for failure?
If your company’s social media interactions revolve around advance announcements of sales, special offers and insider-only promo codes – to the point where receiving these things is the primary motivation for your fans and followers – then you’re essentially bribing customers to stay.
In this case, social media merely provides a pleasant, whitewashed cover for the bribery.
Thus, the very activities you’re hoping will improve your relationship with customers might well be actually hurting your reputation with them, making those customers less likely to pay your full price without balking.
This article will reveal four ways to build customer loyalty without bribery.
For the first time in history, the Internet is focusing in on local business in a major way. And Foursquare is leading the trend.
Instead of competing in a “global marketplace,” local business owners now have access to geotagging, local search, and location-based services. All of which make the Internet more useful to small business than it has ever been before.
Imagine being a hotel owner with several rooms available at 8 o’clock one evening. You know there are a couple of big events happening in town and people are going to be looking for rooms to “sleep it off.” Because of location-based services like Foursquare and Gowalla, you can now advertise a special for those rooms to people who are close enough to take advantage of it.