Purchase-based, debit card, paid and digital, there are many different types of loyalty programs and although they differ in type and impact, they all aim to increase customer loyalty… But are all these loyalty programs good? No! The purpose of loyalty programs goes far beyond increasing customer loyalty.
Although beloved by the mall industry, loyalty programs are often underutilized. If you have a clear idea of what other goals you want to use your loyalty program for, you can achieve great results. This blog post looks at some of the different use cases for loyalty programs: Increase Traffic and Sales Did you know that on average, acquiring a new customer can cost up to 7 times more than keeping an existing one? Attracting new customers is usually more expensive. This means that the more malls can maintain customer loyalty, the better their position will be in terms of both visitor numbers and sales. This is where loyalty programs come in. Because when it comes to building customer loyalty, there’s nothing like it. Now you may be thinking “We don’t need another coupon mailing list”.
And in a way, you’re right—the last thing you want is for your mall to become a graveyard for outdated loyalty programs. Customers today are looking for experiences (preferably digital) and their expectations have grown significantly over the years. They want to feel valued and special. So it’s no surprise if your old loyalty program isn’t showing the results you want. If you want to increase customer loyalty today, it is key to act on the expectations of modern customers. This means that the loyalty program must be interactive and add something “extra” to it. as part of the shopping experience..
Influencing Customer Behavior
Customers are notoriously difficult to influence, and even more so today when traditional marketing tactics are losing their effectiveness. This is where loyalty programs come in, as they can be used to reward desired behavior – consider: If you want to increase foot traffic = reward customers with points for visiting your mall.
Do you want a place for customer visits = reward customers for visiting outside of peak hours. You want to drive traffic to a certain part of downtown = reward your customers for exploring it. loyalty program can act as the necessary push to create the desired customer behavior – which can last well beyond the life of the reward. Modern consumers don’t just want to be told to do something, they want a real reason. You can use a loyalty program to shape customer behavior while promoting customer loyalty because your customers value the rewards you offer. Practically If you want to influence customer behavior, you have to consider two things: What specifically do you want customers to do. What opportunities are there in your loyalty program to change customer behavior? You need to match what you want your customers to do with the most effective and accessible way to encourage that behavior. Nivy Centrum wanted customers to discover the brand new mall when it opened and achieved this with a treasure hunt in the mall using its loyalty app.
Read more here. Or how Nivy got customers to use the dining room during dinner with their loyalty program reward that was available to loyalty program users who shopped after 5:00 p.m. in the dining room. .
Optimize Your Marketing
Efforts Today’s marketing is a jungle, and you have to be sharper than ever to cut through the noise. Online shopping has mastered this discipline – they know exactly who their customers are and what they like. On the other hand, malls? Not really. Client views are often limited to areas such as visitors. And that’s a problem because customers aren’t looking for “one size fits all” marketing. They want to see things that really bring value to them. This means that if malls want to get opportunities, they have to do something radical to improve their marketing. What does this have to do with loyalty programs? loyalty program can be the key to understanding your customers and thus optimizing your marketing. With a loyalty program, you get important information about who your customers are and what they really like. With this knowledge, you can improve your marketing efforts and start communicating the right things to the right customers to get the most bang for your marketing dollar. Practically
Depending on the type of loyalty program, different information and knowledge are available. This can range from email open rates to comprehensive data dashboards covering everything from customer demographics to the effectiveness of postings and the impact of mall visits. In this sense, the extent to which you can optimize your marketing efforts depends largely on the communication of your loyalty program. By seeing how your customers respond and interact with your loyalty program, you can make more informed marketing decisions. Næstved Storcenter decided that a loyalty program was the best way to increase their competitive advantage, as it offered them a great way to understand their customers through data. And their popular quote; Awards of the Monthquot; concept allows them to closely monitor the performance and rewards every month to find out what their customers like best: You can read the full case study of Næstved Storcenter here. It starts and ends with the customer Now we have seen some use cases for loyalty programs in shopping centers. Whether you’re looking for better traffic or optimizing your marketing efforts with modern consumer behavior, it’s important that such efforts begin and end with the customer. And loyalty programs can be the key to ensuring that. Want to learn more about the benefits of digital loyalty?.
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