As 2013 rears its head you may want to start thinking about revamping your loyalty marketing program. Really take the time to see what worked in terms of profitability, customer satisfaction and customer retention. Clearly identify the weak links. Find out what part of your loyalty marketing is making little to no impact on your business. Then take the time to consider what can change. Here are some ways to boost your CRM for the next year.
If you haven’t included social media into your loyalty program, it is time to really evaluate how you can. Find out which social media channels fit into your overall program. Facebook is a great tool for many companies but might not be the right one for yours. It may even do some damage. Really take a look at all the options that will naturally fit your brand by identifying what your core customers already use.
Cleanup Your Look
It is important to balance evolution with consistency in your loyalty program. Don’t stay stagnant for too long because other companies are sure enough changing their look every year. Every year you should polish up your website, add new elements and fine-tune your program’s colors. This can lead to a whole new program for re-engagement and offer you benefits into the next year.
Cut Your Losses
Make the holiday season your last ditch effort to push inactive members to re-activate or reinvest. If you haven’t seen or heard from them by January, cut your losses. Use your time and energy getting new customers who will generate revenue.
Review Your Goals
Take a look at your bottom line and see if your goals are what your company needs. This may involve a huge overhaul in your company’s CRM but will yield terrific results in the next year. Often taking a look at the building blocks of your loyalty program can really help you identify its weaknesses.
Although you may have a solid program base where customers know how things work, it may be time to shake thing s up a bit. Experiment with subtle changes to see what really hits a nerve with your customers. It could be anything from a new benefit or a simple “Thank You.” Test on a small group of customers and see what works and what they appreciate. If you get any feedback, negative or positive, you’ll be more aware of what your customers like.
Article courtesy of customer retention agency, Kobie Marketing.