You know that feeling when working so hard but caught in a cycle and it feels like you’re a hamster running on a wheel? Designing, creating and executing promotion after promotion for your business can be a constant challenge. And let’s face it, it’s exhausting.
It’s time for a better solution.
A tailored loyalty program is your answer. These programs are built on platforms designed to take away the daily headache of motivating your channel, allowing you to manage your channel resources more efficiently.
There are many ways to run a successful loyalty program. Here are three great options that can save your business time and money when managing channel promotions:
Reward behaviours with no limits - Online Auctions
Awarding points for members to spend in quarterly auctions is a popular option – and if you’re working with a limited budget, auctions are a great way to maximise member engagement.
The best thing about using auctions as a rewards solution is points are not a liability: There is no direct relationship between points to dollars. So, in the spirit of giving, why not reward your members for as many positive behaviours as you can imagine. Think training, claiming sales, submitting reviews or even program referrals… the options are (nearly) endless.
And this way, they are engaged throughout the quarter while building a points balance. Then they can compete for great prizes with their points earnings.
Include their points balance in regular email communications and they’ll keep their eye on that favourite auction prize – and on what they need to do to win the great prize.
We do all the work for you, from sourcing and distributing auction rewards to auction software management and all the communications to keep the members engaged and excited. We’ve got it covered from head to toe.
Rewards with urgency - Sprints
Create urgency with Sprint Rewards, where your members race to redeem rewards before they run out. Encouraging members to achieve a desired task before a prize pool runs out sparks a feeling of urgency. It’s an effective tool in achieving fast-paced action from your competitive member base.
Having members see a prize pool run down encourages action from them. It’s a proven motivational tool. When an email conveys a sense of urgency readers are more likely to take action to complete the desired task. Tapping into their FOMO (fear of missing out) results in a higher rate of completion in the desired activity.
Sprint rewards keep things simple and clear. Instant earns do not overcomplicate your earning criteria and they protect your available rewards budget.
Do you have a budget of $5,000 in rewards for the quarter? Offer members a $100 mastercard for any sales over $10,000 and you might be surprised how many big sales come in.
Pop a rewards pool on their dashboard so they can see it deplete. Encourage them to get in before the pool runs out. It’s simple and engaging.
Let them Choose - rewards store
If you want to cut down on administration and wait times an integrated rewards store could be the solution for you.
It’s a great way to maximise member engagement and satisfaction, enabling them to grab rewards whenever they want – provided they’ve earned them of course. Moving from manual rewards fulfilment to instant rewards decreases margin for error, manual processes, and wait times. Cut out the pain of physical cards by allowing your members to receive their rewards whenever they’re ready, right into their email account. It’s consistent, reliable and a hands-off process for your business. No fuss. Just the way you like it.
Your time is valuable and managing sales incentives for your business can be a real hassle. Allow us to take away the headaches. It’s literally what we do. And in the process it gives you back that time to focus on what you do best.
Talk to us today about what’s involved in building a loyalty program that’s tailored to your needs.