“Does your loyalty card earn points?”
This is a pretty common question you get when talking about the different loyalty programs in the Philippines, or maybe anywhere in the world. But is it just about points and cards? Well, the answer is a big NO.
Loyalty Programs, Anyone?
Loyalty programs are created with the intent to fence existing customers and ensure that they avail of your product and/or services every time the need arises.
Loyalty cards and point systems are simply just the most common feature (well aside from discounting) that you offer to your customers to make your program more appealing. Loyalty cards and points earning made a positive effect on people given that humans tend to be competitive (“Hey, look at how much points I currently have with Brand X”) and/or a status symbol showing brand consciousness to a specific brand.
Loyalty Cards & Points: Is This for You?
Now, you might be wondering if this is the best approach to your loyalty program. It could be a “yes” or a “no.” Why? Well, not because everybody has been doing it, but because you also need to be doing it.
First, you have to study your market and see if your customer base is interested in this type of loyalty program, or does it even have a sense for your business to produce cards and do points earning. Is your product or service something they will be needing regularly? Will it add any value for you and your customers to carry that card frequently?
These are some of the questions that you have to answer when building your loyalty program. You can’t just jump into the bandwagon of loyalty cards and copy what everyone is doing. Remember, your brand’s uniqueness is one of your strongest attributes.
Another thing that every entrepreneur should consider is that these are merely tools to engage your customers more. These are just value add-ons that you provide your customers to continuously make them happy and excited about your product or services.
The most important thing for your customers is to be satisfied if not extremely happy with your product or services. This is where the focus should be — on the customer experience. Regardless if you have the fanciest card in the metro or a points-earning scheme that double or triples every visit, if you’re not able to make them satisfied or happy during their visit, chances are they won’t be coming back, or worse, they won’t be recommending you to their friends and family.
The loyalty program is a holistic strategy and should not be just based on tools. A proper assessment of your business’ actual needs and strategy is needed to come up with the right program. In the end, it might be inevitable not to go Cards and Points Earning, but it does not mean that you need it NOW.
Need Help with Your Business?
You might need to start assessing your data analytics to know what loyalty programs fit your business needs. J2E Tech’s Business Intelligence as a Service (BIaaS) subscription is what you need. Visit the BIaaS page today.