Loyalty Program Strategies In Times Of Crisis: An Ultimate Guide (2023)

3. Leverage digital solutions and focus on the omnichannel experience

Using digital solutions is an extremely creative and effective way to reward customers. One of the best ways to digitize your loyalty programs is to gamify them. Gamification is the process of using game elements in loyalty programs. By gamifying your loyalty programs, you can understand your customers’ preferences, enhance social sharing, make your loyalty programs appealing, and increase the ROI on loyalty programs.

In addition to gamifying your loyalty programs, have a robust mobile presence so that you can send digital loyalty points, app-only discounts, and push notifications. Also, use an omnichannel platform to provide loyalty rewards. An omnichannel loyalty program enables customers to participate in loyalty programs using a wide range of channels and create wholesome experiences for them.

4. Balance financial rewards with non-transactional benefits

While earn-and-burn loyalty programs are among the most effective loyalty programs during a crisis, mix transactional rewards with non-financial benefits. Use traditional loyalty programs whenever you can as they can enable customers to exchange points for monetary rewards such as coupons. These loyalty programs provide customers with ways to save money and will reinforce the bond with customers.

Earn and burn loyalty programs will make your customers remember that your company helped them out in their time of need, which will make them more loyal. To complement the financial rewards, use experience-based benefits to ensure a delicate balance.

Summing up,

In a time of crisis, businesses of all types and sizes must rethink and modify their loyalty programs to retain their most loyal customers and successfully navigate the uncertain and challenging times that lay ahead.

If you’re considering modifying your loyalty programs, we at LoyaltyXpert can help you do so. We have created effective and successful loyalty programs for many companies across industries and we can do the same for you. To know how we can help, contact us today.

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