Why would your business need a New Zealand loyalty program?
The most basic aim of a loyalty program is to ensure clients choose your business in preference to your competitors and are happy to refer customers to you. Of course this will not occur unless you are able to deliver the service or goods they want at a price that is comparable with the market.
An effective loyalty program adds another dimension – it differentiates you from your competitors, it locks your clients in to dealing with your business, it gives you a competitive advantage.
A loyalty program can help you to increase market share and lifetime value of customers. Satisfied clients who enjoy the benefits offered when they build points in your loyalty program will tell their colleagues and referral business will increase. It is a well-recognized fact that it is much more expensive to recruit new customers than it is to look after existing clients. A well-structured loyalty program will extend the life of a customer (the length of time they deal with you) and the amount they spend with you.
eRewards’ loyalty programs are self-funding because cost of reward points is directly proportional to sales volume. There are no surprises and you will see a real variable cost relationship between sales and cost.
Rules surrounding the allocation of points can assist with cashflow management and reduce your aged debtors ledger, providing more financial certainty for your business.
If your customers have relationships with complimentary businesses you could consider establishing a joint or multi party loyalty program with a more universal branding that will increase the earning power of participants and therefore their buy-in to the program. This approach can make the program even more valuable to the program sponsors.
What are the benefits of a loyalty program for your business?
- Increased sales
- Decreased client churn
- Access to more detailed client profile information
- Reduced emphasis on discounting
- Directly relate your marketing costs to sales
- Happy clients who feel appreciated
- Reduced cash flow issues
How does an eRewards loyalty program operate?
Each program we create is customised to individual customer needs, but the core process is essentially similar:
Aims of the program should be defined and measurable. In order to make the program powerful it is important to adopt tactics which keep the program and rewards on offer top of mind for the program participants.
eRewards loyalty programs are diverse and flexible enough to allow the rewards program website to share many different types of information to encourage program participants to visit on a regular basis. This can include information about products and services of interest based on profile, reward specials and product specials etc.
The approach here depends on what is important for your business.
Why is eRewards the best partner for your loyalty program?
eRewards has developed experience and a number of very effective models for loyalty programs that all of our clients benefit from. Whether you are new to this form of marketing or you wish to reconsider how an existing program is being offered, we are happy to discuss your needs and provide a cost proposal for an eRewards solution.
In order to be effective, any reward program must offer rewards that are achievable and motivating to the target audience. eRewards offers an extremely diverse range of rewards, more diverse than any other reward program in NewZzealand. We may suggest a full range of rewards or a very targeted subset of rewards focused to your audience.
The approach we offer is simple and our complete service ensures a painless implementation and a successful outcome for you.
You’ll find our cost proposal very different to the way other reward program providers propose to charge. It puts the incentives in the right place and encourages all parties to work towards a successful outcome – a win:win:win for program participant (your customer), program sponsor (your business), and program provider (eRewards).
You will benefit from our experience of working with reward programs of many types over more than five years.
How do I get more information about a loyalty program for a New Zealand business?
Use the contact form to send us your details so we can organise a time to get together with you.