Loyalty Rewards Program For Retail

A loyalty rewards program for retail industry is much more than an incentive for customers to return for repeat purchases. It is a powerful tool for brand building and winning customer loyalty. The program can help retailers create emotional connections with their customers, thereby driving customer satisfaction and advocacy. In addition, a loyalty program is an effective way to gather customer data that can be leveraged for personalization and real-time marketing. Statistics show that 70% of consumers are more likely to recommend a brand with a good loyalty program, while 64% of consumers adjust their spending to maximize their loyalty rewards. Furthermore, loyal customers spend up to 67% more than new ones.

Given the benefits and impact of customer loyalty programs, it is no surprise that retailers invest in effective strategies to deploy them. By rewarding loyal customers with personalized incentives, retailers can leverage their loyalty base to create a sustainable and profitable business growth model. Let us examine some of the major challenges faced by Retailers.

Challenges

Retailers face multiple challenges which have increased multifold post the COVID-19 pandemic:

Change In Customer Expectations and Buying Behavior

Customer preferences will always change, and Retailers must be able to keep up with the trends.

Omnichannel Experience

The pandemic has accelerated the shift towards multi-channel shopping, and brands must provide a seamless experience for the customers.

Data Centric Approach For Marketing And Sales

Retailers need solutions that can handle huge amounts of data being generated to ensure it benefits rather than overwhelms the sales and marketing efforts.

Lack Of Personalization

Personalization is the key to customer satisfaction. All customers need to be sent promotions based on their interests, past purchases, buying behavior etc.

Testimonials And Referral

Recent customer reviews and referrals influence new customer purchases. Hence getting such user generated content becomes critical.

Lack Of Uniqueness

Due to global standardization, all offers, and services seem indistinguishable from one another. In such cases, lack of unique experiences becomes a challenge.

Loyalty Rewards Program For Retail by Zinrelo

Zinrelo helps build loyalty rewards program for retail industry with its customizable, cloud-based loyalty platform. The platform helps businesses create personalized rewards based on customer behavior and purchase history. This helps businesses keep customers engaged and loyal to the brand over the long term.

With Zinrelo, businesses can leverage advanced analytics and segmentation to create targeted campaigns that boost customer engagement. The program allows retailers to run automated campaigns that send rewards to customers for loyalty, referrals, and social media promotion. This helps businesses stay in touch with customers, create more value, and improve customer retention. Overall, Zinrelo helps businesses create a loyal customer base that grows with the brand.

Below are some facets of Zinrelo’s loyalty programs for Retail companies.

Better Segmentation

Machine learning algorithms help create different customer segments based on unique attributes, preferences, and previous behavioural patterns

Create customized promotions based on customers’ interests, past purchases and buying behavior.
Offer incentives with personalized services and individual preferences.

Unique Experiences

Providing unique experiences to outshine competitors and elicit customer loyalty.

Set experiential rewards & offers, and build gamification via badges & contests to create aspirational value among customers

Loyalty Tiers

Move higher spending customers to a higher tier of service.

It is important to pamper loyal customers
Create incremental monetary & non-monetary tier-based benefits (including exclusivity and VIP experiences)
Early access to promotions or new product launches are just a couple of examples that can be offered

Advocacy

Get your customers to help with your marketing. Nearly 9 out of 10 people read reviews before making a purchase.

Write a review
Record a video testimonial
Enable and incentivize sharing on various social media

Referral

A prospect from an active customer referral is 7X more likely to convert

Refer the brand to new prospects

Sample Loyalty Program For Retail

To illustrate what a loyalty program for Retail could look like, we have taken the example of Fab Retail. Below are examples of a typical client loyalty dashboard for a Retail company. The best Retail loyalty programs all have these features in common.

This will be created by Zinrelo automatically on the brands’ website, inside the “My Account” section with a single-sign-on.

Loyalty Points Earning Activities

Points can be acquired by customers through shopping, involvement, promotion, and referrals. Additionally, Zinrelo’s loyalty system enables the development of an infinite number of personalized experiences.

Loyalty Rewards

An array of rewards, such as discounts, free shipping, free products or services, gift cards, charity donations, and many others, are available for clients to redeem with their accumulated points.

Loyalty Rewards

An array of rewards, such as discounts, free shipping, free products or services, gift cards, charity donations, and many others, are available for clients to redeem with their accumulated points.

Loyalty History

On a single screen in the dashboard, customers have access to their points and rewards history for review.

Loyalty Tiers

Customers have the ability to examine their tier status, and as they make more purchases, they are elevated to more prestigious tiers, which provides exceptional service to them. This fosters a sense of importance among clients and strengthens their emotional attachment.

Loyalty Tiers

Benefits with Zinrelo

+80%

Repeat Sales

2.4X

Revenue Per Customer

+50%

Profitability

14X

Customer Retention

Think Holistic Loyalty. Think Zinrelo.

Enterprise
Grade Globally Top-Ranked Technology Platform

Multi-Dimensional Approach from Transactional to Emotional

Real-Time Data Visualization for Intelligent Decision Support

Deep Data Analytics for Program Design Precision

Strategic Consultation to Ensure Continuous Improvement

Machine Learning Powered Segmentation and Personalization

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Total revenue generated per year

Trusted by Brands Across 50+ Countries

Most Trusted Loyalty Platform

Happy Customers

Raphael Faccarello

E-Commerce Manager

YON-KA PARIS

We have seen a 48% increase in revenue compared to last year and this increase is directly attributable to the Zinrelo loyalty rewards program. This is phenomenal!

Fabricio Sant’Anna

Marketing Manager

NATURE’S FUSIONS

The growth we witnessed with Zinrelo has exceeded our expectations. In one year, our repeat purchase revenues have increased by 2.32 times. That is incredible!