There are a plethora of e-commerce businesses and stores in today’s times, all jostling for space in an online marketplace that is getting more and more congested with each passing day. In such competitive times, your business needs to stand out from the rest of the crowd and offer something to customers so that they are persuaded to purchase products from you again.
Loyalty programs have become a great way for businesses to improve customer retention. Thanks to customer loyalty software like EVERY, which allows Shopify store owners to craft their very own customized loyalty and reward programs, businesses can enjoy several advantages.
Here are some of the advantages that John Wantz CEO of EVERY and other customer loyalty software developers can give to your online business store.
Build Emotional Connect with Customers
No matter how fast-paced our lives are, ultimately at the end of the day, we are all emotional beings. Even though online shopping has allowed customers around the world to shop their desired products in just a few clicks, they still treasure the feeling of being rewarded.
John Wantz at Seattle and other developers of customer loyalty software believe that through effective loyalty and reward programs, businesses can build emotional connections with their customers. Such programs can make customers come back to the online store to purchase more products in the future.
Makes Building Brand Loyalty Affordable through the Use of Blockchain Technology
Blockchain technology, a decentralized public ledger system, is employed by customer loyalty software to record balances and activities with regards to reward points. Through the use of this technology, businesses can make consumers aware of their reward points in a cost-effective manner. This, in turn, helps e-commerce stores to boost brand loyalty.
Helps Online Stores and Businesses to Create Personalized Experiences
Whenever your business offers customers the opportunity to sign up for reward and loyalty programs, they have to create a profile by providing information about themselves. This information can be very handy for your business, as you can then personalize shopping experiences for every individual customer.
When customers experience personalization, they are compelled to interact more with your online store and greatly improves the chances of more purchases in the future. With personalized shopping experiences, customers can get suggestions regarding products that they could purchase based on their previous purchases.
Cheaper Investment than Gaining New Customers
Sure, creating a customer loyalty and reward program is an investment. However, the amount of money that you would spend on creating loyalty and rewards program is far lesser than what you would have to spend on acquiring new customers.
Studies have shown that required investments for gaining new customers at least 25% more expensive on average than investments required for setting up effective loyalty programs.
The best thing about good loyalty and rewards programs is that if your existing customer base is happy, they are sure to spread the word about your program to their acquaintances, friends and family members. In this way, you can gain new customers without having to make any significant new investment.
Thanks to people like John Wantz, CEO of EVERY, your online store can have its very own tailor-made customer loyalty program and reap the rewards for very little investment.
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