Image credits – tipsbasket.com
3. Cheering Customers with the Gift Card Loyalty Program
Gift Card Loyalty Program is mostly a hit among customers. Gift card is one of the popular gifts appreciated by a customer and adds profit to the businesses as well. Gift cards allow a customer to buy the full price items and thus targeting for the healthy profit margins. Gift Cards also give the customer the complete freedom to choose a product from his/her favorite brand and to buy what (s)he wants. However, Gift Cards cannot be redeemed for credit or as cash. Some of the online portals implementing the Gift Card Loyalty program are as follows:
– Shopperstop.com – Customers who are shopping for more than INR 2500 at shopperstop.com are gifted with Makemytrip gift voucher worth INR 2500. This gift voucher can be redeemed on Makemytrip.com on a booking of minimum INR 5000 on select domestic hotels.
– Max Fashions – Customer who shops for INR 2000 and above is gifted with a Max instant gift voucher worth INR 500. These gift vouchers can be instantly redeemed on purchase of apparels and accessories at any Max outlets.
– Amazon India – Customer who shops on Amazon India via Couponraja can win gift vouchers worth INR 500. These gift vouchers can be redeemed on the Amazon India.
For the puzzle and game lovers, there are numerous websites online which conduct puzzle contests and the winners are gifted with the gift vouchers from different portals like Amazon, Flipkart, Myntra, Jabong, Makemytrip, and Expedia etc. Many websites present instant gift vouchers for new users on signing up on their web page, as a token of appreciation.
4. Appreciating Customer Loyalty with the Tiered Loyalty Program
The Tiered Based Loyalty Program is one of the effective ways to make your customer stay connected with the brand. A customer will have to climb different tiers to get a priority status pertaining to the brand. It is as good as collecting treasures to unlock the next higher level while playing a video game. Some of the best examples of the major online retailers are:
– Makemytrip.com – Makemytrip has different tiers namely – Silver Tier, Gold Tier and Platinum Tier. Silver Tier rewards the silver member with points on every hotel or package bookings. Gold Tier offers the gold member with a reward of INR 1000 on the Tier upgrade and a 2 night stay at a luxury hotel for retaining the Gold Tier. On upgrading to the Platinum Tier, the customer gets a reward of INR 5000 worth voucher for an International Holiday and a 2 night stay at a luxury hotel for retaining the Platinum Tier.
– Expedia India – Expedia+ has 3 tiers namely, +Blue, +Silver and +Gold. The customer automatically gets into a +Blue tier for the free membership. After the stay in 7 qualified hotels from Expedia booking, the Blue member gets upgraded to +Silver tier. The silver member gets upgraded to the final tier which is the +Gold tier after staying in 15 qualified hotels.
5. Valuing Customer Needs through the Coalition Based Loyalty Program
The Coalition Loyalty Program is an effective loyalty program to grow your company and to retain customers. This loyalty program involves a partnership with multiple brands and hence the funding and other liability – gets equally distributed amongst all. This loyalty program shows that you value and care for your customer’s needs by offering more than just your product. Some examples from the leading retailers are:
– Amazon India – Shopping with the Axis, HDFC, SBI, CITI bank and ICICI credit cards or debit cards offers cash back of up to 20%.
– Nykaa – Shopping with Citi bank credit and Debit cards offer a 10% of instant savings on the purchase of INR 1000 and above.
– Paytm – For every successful transaction using Paytm on Makemytrip, a customer earns 400 payback points.
– Myntra – Shopping on Myntra with Mobikwik Wallet offers flat 15% super cash on all the purchase.
– Amazon India – Big Bazaar offers up to 50% off on Cookware, Kitchen utensils, cleaning accessories, toys and sports accessories on the Amazon Now App.
– Paytm – Swiggy offers a flat 20% off on food order of INR 300 and above when ordered using the Paytm wallet.
Some of the Coalition Loyalty Programs charge an upfront fee for the dignitary or the special treatment for its customers. For instance, Amazon Prime users have to pay a subscription fee for 1 year to avail the Prime service which includes free shipping within a couple of days with no barrier on the minimum purchase amount.
6. Targeting a Clique with Community Based Loyalty Program
Community Based Loyalty Program targets a group of like-minded people. To illustrate we have the following :
– Adidas, the sportswear Behemoth, targets athletes or the sports community by rewarding with points while shopping with the Adidas credit card.
– Nykaa beauty businesstargets women customers with the most loved beauty brands and alluring cosmetics.
– Amazon India offers about 50% off on all the video games, consoles and gaming accessories targeting the video game lovers. Amazon India also offers up to 60% off on baking accessories and wine accessories targeting the bakers and wine lovers, respectively.
– Flipkart offers up to 50% and more on the baby products and also offers attractive combo offers on the baby bath and skin products targeting new parents.
7. Attracting Customers with Hybrid Loyalty Program
The hybrid Loyalty program is a combination of any of the above loyalty programs. It targets a specific group or crowd like students, housewives etc., and offers deal specific to the group or crowd. This Loyalty Program can be combined with a pure tier based loyalty program to customise the rewards and retain customers.
Through this loyalty program, retailers experiment with different combinations of programs to figure out the best outcome of loyalty programs. Hybrid Loyalty Program turned out into a good game as it has the potentials to solidify business by retaining its customers. This kind of loyalty program makes the purchase more fun and rewarding. For example:
– FoodPanda – For a purchase of INR 400 and above, the customer gets to participate in a competition to win exciting prizes like Apple iPhone 7, LED TV etc.
– Amazon Now – Amazon Now offers about 5% off on grocery shopping on a minimum purchase of INR 1000, and about 10% off on grocery shopping on a minimum purchase of INR 2000. The Big Bazaar instant gift vouchers or gift cards can also be purchased on Amazon, which can be later redeemed in the physical stores.