It goes without saying customer loyalty improves brand image, increases profits, and allows for sustainable business growth. Loyal patrons spend up to 3 times more on products and services than your average customer. That’s to say, focusing on customer retention can boost profits by as much as 95%. But too often, businesses focus more on attracting new customers.
In an over-saturated e-commerce marketplace, building customer loyalty is crucial to the survival of your business. The truth is most consumers would switch brands for more rewarding customer experiences. As such, a private loyalty club that rewards customer loyalty is a great way to keep your customers coming back for more.
A branded loyalty club is a loyalty platform that provides clear consumer benefits such as access to reward points, discounts, or faster fulfillment. Private clubs foster a special feeling of exclusivity that elevates brand advocacy and prompts members to spend more.
Traditional club memberships, or loyalty programs, are largely similar in that they require customers to gain points for transactions and redeem rewards later. However, the world today is geared towards instant gratification, and it’s time company membership clubs caught up.
Whether it’s streaming movies online or having pet care kits delivered every month, consumers are more than willing to pay membership fees as long as they get value for their money. Creating a private loyalty club can accelerate brand loyalty and enhance your relationships with your customers.
Benefits of Treating Customers Like Private Club Members
Most loyalty clubs charge a monthly annual subscription based on the product or service being provided. For this, customers receive a series of benefits that make their shopping experience more lucrative and convenient.
There’s a fundamental shift in the world of business that brands have to consider, and that is moving away from monetizing products to monetizing relationships and customer experiences. That’s what private loyalty clubs provide. In the modern economy, brand affinity is created socially. Consumers are fans, gamers, hobbyists, pet lovers, environmentalists, and collectors. Membership programs trade on this social capital to create rewarding experiences for all parties involved.
Any brand can create an invite-only or pay-to-access club of people who are passionate about what the brand stands for. Thanks to membership in a community, loyal customers can get early access to new product drops and events that make them feel special and appreciated. Subscription models make the connection between brands and their customers more personal and more authentic, fueling customer loyalty beyond simple individualized transactions.
Through club memberships, brands have a golden opportunity to turn exclusivity into feelings of inclusion, where customers feel like valued members of a community. As a result, they are more likely to become loyal brand advocates.
There are various ways to pursue customer loyalty programs. Discounts can easily draw customers to membership clubs, but what makes them renew their subscription is the exclusivity. What your loyal customers truly want is to be understood and treated as special.
How To Create A Private Members’ Club?
Every type of business can benefit from a loyalty club for their customers, from retail stores to food services companies.
Whether you’re a small local business or a large business, there are various ways to make the club membership worthwhile for your customers. For instance, you can offer free samples and discounts as incentives for signing up. You can also reach out to companies related to your brand to create a product line exclusive to your members.
Other typical loyalty club incentives include:
- Early access to sales and promotions
- Members-only discounts
- Special services, like free or expedited shipping
As a small business owner, creating a private club doesn’t have to run you dry. Offering loyalty club perks that aren’t offered to non-members can prompt people to join your club and increase overall sales. Customers engage more and spend more when they feel seen and appreciated.
Incentivizing loyalty is an effective way to maintain your customer base. The implication of loyalty clubs is that something worthwhile lies within, some special treatment that distinguishes your patrons from everyday customers. But club memberships are not just about prestige and exclusivity; they also foster identity and belonging.
Have A Premium Club Membership Program Work for You in 2022
Your business needs a customer loyalty program that brings in sales and referrals. Branded loyalty clubs encourage repeat business, offering people a reward for their loyalty. Sprinkle in exclusive and instant benefits and watch brand engagement rise.
Glue Loyalty makes it easy for every local business owner to create a digital branded loyalty club for their business in minutes. Not every club membership program has to involve only discounts. Some brands engage members also through exclusive experiences. With Glue Loyalty, you can curate experiences and custom discounts unique to your brand and the products or services you offer.