Interested in setting up a customer loyalty program for your business? Let Kyrios Systems be your guide!
Remember those punch cards you used to get at the deli, or the smoothie shop? Didn't it always feel great to cash in that card and get your free sandwich? It always tasted better - like victory. Your customers want to feel that too, preferably as often as possible, but our current app-based customer service model tends to stand in the way of really scratching that itch.
To find out how some companies are changing the customer loyalty game, visit https://kyriossystems.com/post/implementing-customer-loyalty-program-guide-smbs
Of course, no app will ever be able to replace the rewarding tactility of a punch card, but there are ways to more effectively engage our customers without going back to the old days.
Kyrios Systems has a guide that explores many of these methods and explains the goals you should have when setting up your customer loyalty program. Let's explore some of these ideas together!
Kyrios is showcasing some of the most successful loyalty programs that top companies are currently using to reward their customers, providing a blueprint that you can use to achieve that same success. For example, they cite the Starbucks rewards program as a sterling example of an initiative that offers significant benefits to customers, but has also been an all-time success for the company, upheld by fans of the company and economic analysts alike.
In the Harvard Business Review’s piece on the subject, a researcher offers several insights that are echoed by Kyrios regarding why loyalty programs are so important. In that article, the author distinguishes customers by their lifetime value, clarifying that customers with a high lifetime value will often spend even more at a given business if they feel they are being rewarded for doing so.
Kyrios adds to this idea in their guide, suggesting that maximizing a customer’s lifetime value should be the goal of any incentive program, and that failure to do so is the primary reason why these programs tend to fail. They suggest that the best way to accomplish this is through the diligent collection of data through a comprehensive CRM solution.
Kyrios Systems closes their new guide as follows: “To truly harness the power of customer loyalty, it's crucial to implement a well-thought-out program tailored to your audience's needs and preferences. Whether you choose a points-based system, a tiered approach, or a value-driven initiative, the key is to remain consistent and responsive to your customers' evolving expectations.”
Learn more at https://kyriossystems.com/post/implementing-customer-loyalty-program-guide-smbs
