Loyalty Programs and Rewards Strategy
With 40% of ecommerce revenue coming from returning customers, there is clear value in brands building loyalty with a dedicated customer base. Loyalty and rewards program on ecommerce websites can play a key role in keeping customers engaged with the brand and coming back again and again.
Strategy Meets Toolset
GRAYBOX works with partners to build customer loyalty strategies, mapping the program, and implementing a toolset to manage it as part of a comprehensive customer engagement strategy.
The potential for creating long-term customer loyalty has a dual impact of both increasing revenue and creating a group of brand advocates to help grow your brand. How best to do that will depend on a variety of factors and GRAYBOX helps merchants implement programs that make sense for where the business is at.
We often subscribe to the "crawl, walk, run" methodology when recommending new initiatives and loyalty programs are no exception. They can often be a significant undertaking, so if the goal is to just check the boxes, there are other initiatives you might start with. GRAYBOX works with merchants in determining what the goals are for the company and your customers in creating the program in the first place.
Building customer engagement and retention are key goals for merchants in building loyalty programs. Incentivizing customers is often through specific activities on site that build rewards points that customers can use on purchases in the future. Activities can include product purchases themselves, product reviews, customer referrals, and social posts.
GRAYBOX also works with merchants on selecting the right technology solution for them. Some are extensions that are built right within modern ecommerce platforms. Others tie into ecommerce platforms via third-party plugins and provide an easy-to-use portal for managing rewards and loyalty promotions, the latter of which can be very important at scale.
Whatever the size, GRAYBOX can work with you on planning and executing a comprehensive loyalty and rewards program to fit your business.
Map the Program
A loyalty and rewards program shouldn't be a gimmick. To incite true customer loyalty, think about the big picture when mapping out the program. We typically see great loyalty programs aligning with a company's brand ethos, providing clear value for customers, and having clear goals with potentially tiered status to incentivize engagement.
Loyalty and Rewards Tools
GRAYBOX can recommend a variety of technical solutions to support your loyalty and rewards program needs. There are plugins that tie directly in most ecommerce platforms, many of which also support ongoing communication with your customers about rewards and how to use them to incentivize on-site engagement.
Customers Can Work for You
Brands can leverage a loyalty program to help generate more content for your site, from a variety of sources including on-site reviews, social posts and customer referrals. Not only do these provide value to you as the brand, but also to your customers in helping spread the word.