Customer loyalty programs are all the rage. And it’s no wonder. These programs are not only an outstanding way to retain customers, they also generate a great deal of revenue. If you are an Ag-based business it is important to remember that farmers and ranchers are as likely as any other market segment to be influenced by such loyalty programs.
So why are customer loyalty programs so effective? Here some important reasons:
· Loyalty programs shows you value your customers. Consumers want to know they are appreciated by the businesses they patronize. Loyalty programs are a great way to show them that you appreciate their business.
· Loyalty programs encourage repeat business. If you get a free item for every ten items purchased, you are likely going to work toward that goal. After all, free is a very big motivator.
· Loyalty programs increase referrals. Loyalty programs that reward customers for referring family and friends are a great way to get people to talk up your business.
· Loyalty programs can garner online reviews. Offer additional points for online reviews and you’re more than likely to get takers.
Customer loyalty programs—provided they are well run and provide real benefits—are a great strategy for standing out in a crowded Ag marketplace. After all, farmers and ranchers have more choices than ever before so any incentives you can offer should be employed. It is important to remember, however, that if your loyalty program falls short of expectations it could backfire.
In light of this, make sure to follow these guidelines when implementing a customer loyalty program for farmers and ranchers:
1. Don’t assume that a loyalty program is all you need to keep your customers happy. If you aren’t providing what your customers want and need, no loyalty program will make up for that.
2. Not every farmer will want the same reward. Loyalty programs—especially for farmers and ranchers—need to be tailored so that each customer receives what they believe to be a worthwhile reward.
3. While it is tempting to add a lot of bells and whistles to a loyalty program, this is almost never a good idea. Instead concentrate on making sure that your loyalty program is easy to enroll in, is mobile friendly and that award redemption is a breeze.