In a world where e-commerce is evolving at a fast pace, shoppers have a plethora of shopping platforms to choose from to make their purchases. However, Shopify has stood the test of time and has been a powerhouse in e-commerce. Shopify has kept pace with the dynamic changes in the e-commerce world by offering ample possibilities for growth to its merchants through various Shopify apps which make it easy to set up loyalty, reward programs, and store credit options. But the point lies in how one can make the most of these opportunities?
Most businesses focus on targeting and acquiring a new customer base, while completely or partially ignoring the customer retention strategies of the existing customers. This is where the problem begins. According to statistics, loyal customers increase sales and profits by 25 – 95 percent. In a scenario such as this, it gets all the most important to retain existing customers. So, how can one not think about re-engaging existing customers? Well, there is one sure-shot way of building a loyal customer base, and that is, by building an effective loyalty subscription strategy.
So, if you wish to drive more sales in your Shopify store through an effective loyalty program strategy, keep reading this article for some more informative insights.
What is a Loyalty Program?
Before we delve further into the article, let us first understand what exactly a loyalty program is. A customer loyalty program is a marketing strategy that is sponsored by retailers and businesses as a way to attract and retain existing customers, by offering them special discounts, incentives, and rewards. Loyalty programs are designed to encourage repeat purchases by offering people a reward for their brand loyalty
A Shopify loyalty program is one of the most reliable ways of retaining customers and driving more sales. So, read on to learn more about developing and implementing your loyalty schemes.
Effective Ways for Building a Shopify Loyalty Program
A well-built and strategized loyalty program can not only help develop strong connections with customers but also increase the chances of more sales from the invaluable word-of-mouth of satisfied customers. Here are some ways in which one can build an effective Shopify Loyalty program –
Identify the factors
The first step involves identifying the factors that build brand loyalty. This step involves a bit of market research to understand what factors drive the customers to be loyal to a brand or a store.
Remove Barriers to Loyalty Programs
A well-defined customer loyalty program may be of no use if it is not effective. For instance, if the loyalty program is such that it takes too long for a customer to receive a reward or a benefit, the program tends to lose its essence. So you must make sure that the e-commerce loyalty program is designed to be convenient and truly beneficial.
Integrate Loyalty programs with Brand Identity
One of how your loyalty or reward programs can be made impactful and noticeable is by adding the elements of your brand’s identity to it. What we mean here is that brand your Shopify loyalty program the same as you would a new campaign or product i.e. to do some loyalty marketing. This can involve giving it a fitting name that highlights its uniqueness and value, or matching the loyalty program’s look and feel with your company’s brand. This way you can ensure that the entire program comes across as cohesive and therefore attractive.
Effective time to Invite customers
Picking up an effective time to invite customers to your loyalty program has proved to be a game-changer, for it has elevated the impact of the customer loyalty program. However, inviting the customers into the Shopify loyalty program either before, during, or after purchase depends on your situation. But doing so before a purchase is made, can be an effective marketing technique. Also, invitations offered during a purchase have been found to decrease shopping cart abandonment. And sending post-purchase invitations provides customers with after-sale satisfaction, which boosts retention.
Offer Gift Cards
Gift cards are also an effective way to not only attract new customers but also retain the existing ones. Offering gift cards to your Shopify loyalty members on their birthdays is a very impactful way of increasing customer satisfaction and customer experience.
Offering discounts for Abandoned Carts
A great way to revive an abandoned cart is by offering discounts on the products lying in there. Use the customer data collected through enrolment in the loyalty subscription program to send a small e-gift card relating to the abandoned products. This will not only increase the chances of making a sale, but your customer will feel appreciative of the bargain.
Investing in customer loyalty programs ensures long-term benefits for your business in the form of more sales and long-term customers who make frequent purchases and share your business with their friends and family. We have brought to you some of the expert-recommended effective ways to build your own Shopify Loyalty Programs for your business.
Need any help strategizing for the loyalty subscription program? We are here to help you. Contact our team of expert professionals to help you get started.