How to set up a customer loyalty program in 5 easy steps

Successful businesses rely on loyal customers, which makes customer loyalty programs a vital component of any business strategy. However, too often business owners avoid getting one off the ground because it seems like too much work.

Improving customer retention rates can increase revenue by 25-125 per cent.

Setting up a customer loyalty program will take time in the beginning, but if you do it right, your company will reap the rewards of retaining loyal customers. Improving customer retention rates can increase revenue by 25-125 per cent

So, how long does it take to set up a customer loyalty program? It all depends on how much time you are willing to devote, but it's not as time-consuming as you may think. Here are the steps you'll need to follow to set up a customer loyalty program for your business.

1. Research successful loyalty programs

The first thing you need to start a customer loyalty program is an in-depth knowledge of what has and hasn't worked for other companies in the past. We don't encourage copying loyalty programs other businesses have implemented, but it's a great idea to look at what they have done right in order to get some inspiration.

Research what other B2B sales companies have done that has worked for them, and see if there are any valuable insights you can take away.

2. Research your customers

There's no point implementing a customer loyalty program that doesn't target your customer base in the right way. Conduct research into what your customers like, what they want out of a loyalty program and what would keep them coming back.

Once you've received feedback, factor it in when designing your loyalty program.  

How to set up a customer loyalty program in 5 easy stepsKnowing what your customers are after in a loyalty program will ensure yours is effective. 

3. Decide which kind of loyalty program works best for your business

Now that you've got  inspiration and some information about your customer base, you need to decide what kind of loyalty program will work best.

You've got the background you need, now you just need to use that to create a customer loyalty program that employs successful strategies and meets your customers' needs. 

4. Put systems in place

Think about how you are going to get your customers to sign up to your program, how you're going to communicate with them, and how they'll receive their rewards. Putting efficient systems in place will ensure you collect the information you need and monitor those who sign up.

This could involve purchasing monitoring software, integrating your email marketing with your customer loyalty program, updating your website and producing collateral.

No one is going to sign up to your loyalty program if they don't know it exists!

5. Market your new program

No one is going to sign up to your loyalty program if they don't know it exists! You'll need to promote it using a variety of channels.

Do you send out regular email updates to your customers? Consider adding in some promotion of your loyalty program. Your company website is another good place to market your program. Think about where your customers are looking and tailor your marketing accordingly.

The best part is that you don't have to do all of these things yourself. 2one2F provides an end-to-end solution in setting up B2B customer loyalty programs. Get in touch for a free consultation with our experienced team.