Loyalty programs are used by companies for a number of different reasons. They can help keep track of consumer behaviour, increase sales, improve customer retention, etc. But how do you develop a successful loyalty program which will achieve all of this? Some companies invest millions into complex rewards programs but this only works for larger companies. Loyalty programs can be used by companies of all sizes and the following is a simple but effective example of this.
How can promotional products be used in loyalty programs?
When launching loyalty programs there needs to be some type of reward for the customer to take part in. By offering branded promotional products as a reward for repeated purchases this will work as an incentive. In the case above, 7 eleven gave out stamps every time a customer bought a product in their stores. These stamps could then be traded in for a key-chain. This type of incentive means that customers are more likely to return to your store. Since the number of stamps you receive is directly linked to how much money you spend, the average spend will also increase. While this is a large company, this type of marketing campaign can work on a smaller scale as well.
By offering extra stamps for certain products you can increase the sales on these. This can be done for a number of different reasons for example due to them being particularly profitable, to increase inventory turnover for products that aren’t selling as well as anticipated, etc.
Feel free to contact the ODM Group to learn more promotional products. Our in-house design team, Mindsparkz, can also help you come up with new and unique ideas for your promotional campaign.
Below are some other related products you can look at for more inspiration:
What kind of promotional products can I use for my loyalty program?
The options are endless. From stamps to redeemable coupons to discounts on certain products or free gifts with purchase above a certain amount. In the case of gifts, It is important that your choice of gift is of good quality, durable and of immense relevance to your audience. This way, they're more likely to be interested and take part in the promos.
Are the promotional products for loyalty programs supposed to be branded?
The whole point of these loyalty programs is to not only increase sales but also to improver customer retention while creating brand awareness. it is important that the promotional products you decide to use can be traced back to your brand either by branding with your logo, brand name or symbols, and taglines that are familiar with my brand. This way, people always have your brand in their memory.
Can I use a loyalty program with a small business?
Yes, you can. In the case of a small business, you can use promotional products as a reward for repeated purchases. This encourages people to buy more of your products. You can even introduce stamps and redeemable coupons to make it more interesting.