3 Ways to Leverage Social Media for Your Rewards Program

3 Ways to Leverage Social Media for Your Rewards Program

The world is going digital! Brands communicating with their audiences online, people prefer chatting versus meeting up, we prefer sending birthday wishes online instead of going and meeting people in person.

The first thing we do when we wake up in the morning is reach for our phones, check our messages, our social media updates, and then probably drag ourselves out of bed. Social media has undeniably become an inevitable part of our lives. We are more connected to each other than ever before.

Leveraging these insights are brands that try to keep in touch with their consumers on a regular basis. Whether it is running offers, promoting new products, or just speaking about their existing products to stay in the consumer’s consideration set, brands are doing everything to ensure visibility for themselves.

Consumers spend most of their time online. Especially when it comes to making a purchase. And if you have a strong presence on social media, you have won yourself some extra brownie points already!

Imagine reaching out to these consumers and converting them into loyal customers. Wouldn’t it be simpler to speak to them in a language they understand, on the platform they frequent so often? Here is when social media comes into play! Most brands have cracked the code to engaging with their consumers online and converting them into loyal customers.

Here are a few ways in which you, too, can look at using social media to your benefit and promote your rewards program:

CREATE BUZZ:

Who said reward programs need to look boring? Or they just need to be informational? You can create interesting content around your reward program and engage with your audience. Probably ask them to guess what’s coming next or use some interesting visuals to create some intrigue. You could even have a contest around it. The more you create a 2-way communication, the better chances of people remembering you. Create as much buzz as you can and watch people engage.

STRENGTHEN YOUR SOCIAL MEDIA GAME:

Participate in online conversations, interact with your audience, and make sure you create posts that are engaging and interactive. Have a strong design language that creates immediate recall. Engage with your audience as much as you can. At the same time, make sure you don’t spam them with your content. Avoid repetitive content. Each post that you put up should give people more information than they already know.

USE SOCIAL MEDIA ANALYTICS TO YOUR BENEFIT:

While it’s a good idea to communicate with your audience online, it is also important to know how well you are faring. If you are not achieving the goals you have set for yourself, you might want to reconsider your strategy. This is where analytics come into place. A lot of apps allow you to gauge your social media performance by giving you a detailed report along with insights. This not only helps you monitor your strategy but also improvise it in real-time.

It also helps you understand whether you are reaching out to the correct audience or not, what is the engagement rate, and how often people are engaging with your posts. This in turn helps you understand your customers better. With the metrics you get, you can then more or less predict how interested your consumer is in your reward program, what is the likelihood of them redeeming the rewards, or what are the chances of them participating in the program.

You can also use A/B testing and track the results to analyze how consumers react to your campaigns and which campaign receives better results. You can then use this these analytics to make data-driven decisions about what people like and don’t like about your rewards program.

A good reward program and a good social media strategy are a powerful combination. Once you know how to use social media effectively, you will be able to attract more and more people to your brand in no time.

While you use social media to promote your reward program you can also promote your reward program on nth Rewards – a multi-brand loyalty program by NPCI. As one of the largest brand loyalty platforms, Nth rewards helps you connect with your potential customers and increase your loyalty base. You too can become a partner and ensure great visibility for your brand.

What is a repeat customer and how are they the key to a successful business?

What is a repeat customer and how are they the key to a successful business?

Very often when you realize that your business isn’t reaping the profits it should, your first strategy is to try and acquire new customers. You put in loads of money trying to attract new leads, get them to buy your product. Hell, you even try to give them free samples just to make sure they notice your product!

However, you don’t realize that you already have a whole bunch of customers who are not only familiar with your products but have also used them – maybe once, maybe twice, or even regularly. These customers who make repeated purchases are referred to as repeat customers. And believe it or not, repeat customers are more profitable than acquiring new ones. Not that you shouldn’t invest your resources in getting new customers – they are important too. However, repeat customers are known to be more profitable and less taxing. Let us tell you what makes them so profitable and why you should invest in them.

1. They know your product

The best thing about a repeat customer is that he knows your product. And not just knows, he likes your product too, and that is why he keeps coming back. You don’t have to spend time explaining to him why your product is better than other products in the market or why he should invest in your brand. He likes your product, he believes in your product, and he chooses it over other products in the market.

2. They are your best brand endorsers

More often than not people tend to rely on word of mouth endorsement than any other piece of communication. A friend’s opinion is more valuable than a social media post or a television ad. Why? Because someone you know has used the product, liked it, and appreciated it too. Why would you want to spend hours researching something when you already have someone who’s tried the product and is happy with it? Not only do repeat customers keep coming back, they also bring in a lot of new customers too!

3. It is easier to sell to a repeat customer

It is always easier to sell to a repeat customer. He’s tried your product, knows your product, and is willing to spend on your product too. He knows your brand and is willing to spend regularly because he likes your products.

4. They are more willing to try new products from you

Let’s say you are ready to introduce a new line of products. More than a new customer that you are trying to acquire, your repeat customer will be willing to try the product – even if it’s not for free. He knows your products, trusts your products, and doesn’t need much convincing. In fact, he will even bring in new customers because he knows you so well. And if you give him a good customer service, you’ve got a loyal one for a long time!

5. They don’t think twice before spending a little more

If you are running an offer a repeat customer will be more than willing to buy more – simply because he knows your product. A great deal or offer will only entice him to make more purchase and he won’t think twice about it; because, why not?

To keep your business going, it is a great idea to acquire a new customer – that’s how you end up turning them into repeat customers. But it is also imperative to keep your repeat customers happy. When coming up with a plan, make sure you allocate your budgets wisely and focus on appealing to both sets of customers.

nth Rewards is a multi-brand loyalty platform developed by NPCI and one of the largest platforms that helps you connect with your customers and retain them too. You too can become a partner and ensure great visibility for your brand.