Rewards programs for businesses

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Close this module. Sign up for the Maverick Newsletter. No Preference - General. Service Industry. We occasionally send out emails with special offers. KPMG suggests four strategies:. Make loyalty programs easy to use: Customers should only have to make minimal effort to earn and burn points.

Promote it! Keep them fresh: Add new and different rewards regularly. Unexpected or exclusive offers and experiences can increase emotional engagement from your customers. Greater brand loyalty often leads to bigger growth. My FedEx Rewards comes with an expanded selection of rewards to help you show some gratitude to your employees, or just take some well-deserved self-care. Just for signing up, they get a free drink on their birthday — and every 11th drink purchased is free.

At the Vibe Club, every 11th Boost is Free. Via Boost Juice Bars. This type of loyalty program is very appealing as they are very easy and convenient to use. This translates to customers finding it very easy and fun to enjoy the rewards from your loyalty program.

Many businesses which provide services and sell software with regular updates usually offer free upgrades to their customers to retain them and attract new customers to purchase from them.

An example of a big brand doing this is Telstra, an Australian Telecommunications Company. Telstra offered existing customers on old plans and lower data allowances a free monthly upgrade of GB mobile data.

Customers like nothing more than to be treated with exclusivity when they make purchases and remain loyal to their favorite brands. By creating a members-only VIP loyalty program for your customers, they will feel drawn to return to your business for repeated purchases to get exclusive perks like VIP-only discounts, FOMO deals, free gifts, new product samples. This loyalty program is not expensive or difficult to implement as you can promote this in-store when customers make purchases from you, and promote it online so new customers who want the VIP perks will sign up for it.

Sephora goes beyond the loyalty card points idea with an attractive 3-tiered VIP loyalty Program that increases in perks when customers make more purchases with rewards like Meet and Greet beauty events, Sweepstakes, Birthday gifts, and free samples. On a smaller scale, making customers feel special is a great example. Plain Vanilla , a small cafe, uses a digital loyalty program to make sure every staff member gets to know each customer by name and turn the cafe into a community.

By teaming up with other small businesses who share your target market but are not directly competing with you, you can mutually attract customers from other businesses who will have an interest in your brand.

With this loyalty program, customers will be more likely to give your business a try and return to purchase from you when they receive positive customer experiences.

This collaboration is a low-cost customer acquisition channel that allows Casper, a sleep startup, to promote their mattresses through West Elm, a popular home furnishings retailer with an established loyal customer base.

On a smaller scale, look for businesses nearby that you can partner with and offer group deals. For example, your cafe could work with the bakery down the road for a breakfast deal. Offering free gifts help to promote new products in your business and attract previous customers to return to your store to make another purchase. By offering limited-time freebies, customers will be enticed for the fear of missing out on a good deal. When customers return to your store, they will be more likely to spend more too.

This time-sensitive deal rewards their customers and entices them to spend more to enjoy the freebies. With one busy season, many businesses can see a huge spike in their revenue when shoppers clamor for attractive deals for products and services they desire during that period of time.

Source: Dunkin Donuts Facebook. They also entice new customers by encouraging them to sign up by October 23rd as a member to enjoy the rewards.