Looking to increase your loyalty program adoption rates? As loyalty programs get started, adoption is a big concern. You want to establish a foothold in your customers’ shopping habits. Here are two ideas to help spur you forward during the expansion.
Front Loaded Promotion
The most typical effort is to front-load the program with a promotion. You see this with double points, freebies, and other extra offers at sign up. These do statistically move your numbers forward more than your standard offers. The challenge to watch for in these is balancing the extra incentive with the cost of acquisition of the program. Make sure your offers don’t leave you in a bad place when it comes to the customer’s projected LTV (lifetime value). For example, if double points will cost you more than you would profit from a customer in two years, you might want to think about that carefully. Attrition might happen in that two-year timeframe, and then you’ve lost money on the deal. But on the positive side, a great promotion can be a great driver to sign up. The most successful signup driver, though, is a program that is well-constructed with apparent benefits.
Sign Up Teams & Events
A popular way of increasing sign ups is bringing the program to your customers through direct contact. Sign up events or sign up teams are great ways to position the program offering to your customers, and provide a real one-to-one interaction to boost understanding and adoption. We all crave a program that will grow on its own, but having the chance to interface with customers in person will give your loyalty team a chance to hear direct feedback on the program, as well as a chance to connect with the customers personally. This will drive overall acceptance. “Boots on the ground” has many other advantages and is something that should be considered during the adoption phase of a loyalty launch.