Loyalty Programs & Ecommerce Industry: Exploring the Relationship

Global B2C market is expected to reach the mark of 2.35 Trillion (USD) by the year 2017. These figures are enough to testify the fact that the sector is growing at an immense rate. This has led to various businesses to step into this field to test their fortune. However, most of them are not able to make it big in the sector because of an inefficient approach.

The reason that a successful business is a result of a successful and loyal user base, the inability to hold them is a plays a devastating role in putting all the efforts in vain. Here, if you are one of those business owners to looking to make it big in the ecommerce sector, then you need to take the ‘Customer First’ approach and implement customer loyalty solutions in an effective manner.

Let us first outline the definition of customer loyalty solutions:

According to Investopedia, a loyalty program is a rewards program offered by a company to customers who frequently make purchases. A loyalty program may give a customer advanced access to new products, special sales coupons or free merchandise. Customers typically register their personal information with the company and are given a unique identifier, such as a numerical ID or membership card, and use that identifier when making a purchase.

Now that you have an idea of what loyalty programs are all about, you must be wondering that why should you implement these for business. Well, we’ve covered that part also. Below we have listed out various benefits these programs hold for your business. Have a look:

Give rise to a loyal base of customers

As you get from the name, loyalty programs are all about giving a rise to a loyal customer base. As you make them happy by your services, you make them fall in love in love with your brand.

Give Rise to Brand Advocates

As you tend to make them loyal towards your brand, they tend to become the brand advocates by spreading the word of mouth which can play an important part in success of your business

Give Rise to More Business

Loyalty programs not only play an important role in increasing repeat customers but also it is crucial for encouraging higher purchases among the users.

An ecommerce web development company can help you integrate these programs in both your mobile and web application by integrating various features. These include implementation of reward based programs, gamification, providing discounts and much more.

In short, holding and engaging customers is a key to success for a business. That is why you need to make sure that you strategize your marketing plan in this manner in order to pave way for success for your business.