I can’t think of a business that doesn’t want to retain their existing customers and also get new ones, maybe Jetstar. But for the other 99.99% of businesses looking after existing customers and acquiring new customers is the goal.
There are lots of angles to achieving this goal, starting with the four ‘P’s’ of Marketing: Product, Price, Place and Promotion. Then of course there is ‘People’, which is every bit as important as the other four. But even when you have got all these covered there are ways to enhance them.
There are now rewards/loyalty programmes that will ‘enhance’ your ability to retain and acquire new customers. These programmes use cloud based functionality so all businesses can have the chance to implement a rewards/loyalty programme very effectively and also very efficiently.
Two tools that I’m familiar with are: NextBee and Fielo. They both offer solutions that allow business to run and manage their own branded programme. But don’t think the traditional loyalty programme used by larger national brands, these solutions are the new way.
They are very cost effective:
- One of the two solutions has zero upfront costs for their out of the box solution
- The monthly costs are either on a cents per active user rate or a fixed rate
- They allow use of your customer’s social media for referrals
- You only pay for the rewards redeemed.
They are autonomous:
- They have your brand, and only your brand
- You manage them as you wish – options include focusing on new products, referrals, encouraging different customer behaviours, rewarding for tenure
- You are not confined to running promotions when another party says you should.
They are scalable:
- Start off small with a select group of customers or staff
- Develop any number of rewards campaigns in your own time.
As a previous participant in one of the traditional loyalty programmes I’ve been blown away with the functionality these cloud based tools offer. Others have been impressed to, users include: Virgin, Taco Bell, Westfield, Unicef, Adobe to name a few. New Zealand clients are now starting to roll in too.
Go 2 Market principle: consumers all love being recognised and rewarded. Until now this was very difficult and expensive for most businesses. But now there are options that offer benefits over and above the traditional less flexible and more expensive programmes. Fielo or NextBee offer a cost effective, independently branded and managed rewards and loyalty programme. Time to play?