Interesting UAE Facts For Retailer Rewards Program That Will Impact on Sales
Being a leading customer loyalty and analytics company in Dubai, we at Yegertek have something special for you in store. Be ready to attain a whole new perspective and vision for retail loyalty program solutions in uae after reading further.
What are Customer Retail Loyalty Programs?
Retailer loyalty programs are marketing activities used by merchants to increase consumer loyalty and encourage repeat purchases. These programs aim to strengthen client relationships, increase satisfaction, and differentiate the retailer from competitors.
Customers that engage with the brand or store on a regular basis are given a points, incentives, and other privileges. consumer loyalty cards, mobile applications, and online accounts are frequently used to track consumer activity and give customized offers depending on their preferences.
Implementing Retailer loyalty programs not only improves customer retention and encourages repeat business but also provides retailers with valuable data and insights.
How do Retail Membership Programs Works?
Retail loyalty programs incentivize customers to engage regularly with a specific retail brand or store. Here’s an overview of how they work:
- Enrollment: Customers sign up for the loyalty program, providing relevant information for tracking their purchases and preferences.
- Earning Rewards: Customers accumulate points or virtual currency based on their purchases or interactions with the retailer.
- Redemption of Rewards: Customers can redeem earned rewards for benefits such as discounts, free merchandise, exclusive promotions, or cashback.
- Personalization: Loyalty programs use customer data to offer personalized experiences, including customized offers and recommendations.
- Communication and Engagement: Regular communication keeps members informed about program updates, rewards, and special promotions.
- Data Analysis: Retailers collect and analyze customer data to gain insights into preferences, behaviors, and trends.
By implementing retail loyalty membership programs, retailers enhance customer engagement, satisfaction, and retention. These programs provide valuable data for improving products, services, and marketing strategies.
We have discover 7 staggering facts for you that will change your approach towards your retail loyalty programs in UAE:
86% of retailers willingly join hands with websites & apps that concentrate on wide-ranging deals, cashback & loyalty.
It is recommended for retailers to make sure that they collaborate with websites or apps which can help their business with more sales opportunities. For instance, Amazon comes with a platform that enables several retailers in selling their products online. Through the platform, they get to create sales and product deals while avoiding losses that could arise because of bad sales.
72% of retailers prefer mobile marketing to induce in-store sales
Mobile marketing is rapidly becoming the next big thing when it comes to enhanced customer loyalty and improve sales. Retailers are now choosing to rely on browser-based advertisements as well, which can show relevant products to the end-user. Retailers should be looking for websites and apps which offer better discounts. Also, targeting the correct audience too is very important in order to achieve ultimate solutions with loyalty programs for retail.
84% customers will not be coming back to a retailer in case of a bad experience while returning a product.
Every step of closing a deal with the customer counts as an equally vital aspect of customer experience. Retailers should ensure that product returns are be in charge in customer-friendly manner. Even the smallest of bad experiences can drive customers away forever.
78% of shoppers will buy more in the long run if a retailer has free returns.
Customer retention can be achieved by offering convenient product returns for the customers. Good experiences, as stated in the previous statistic, matter a lot. Similarly, free returns also have a solid impact on the customers’ mind-set, making them think positively towards the retailer’s brand.
56% retailers give credit to the increase in sales revenue as the most important facet of their loyalty program
Retailers firmly believe that offers and discounts directly result in improved sales, which further ensures customer growth and expanding brand awareness. With a steep rise in sales, the overall customer engagement towards and into the brand campaigns increases. This as a result paves the way for robust customer tired loyalty.
55% retailers extend praiseworthy acknowledgement to new customer growth as the front-running factor of their retail loyalty solutions
Almost as highly rated as the growth in sales – an increasing customer base is also considered pivotal in contributing towards retail loyalty solutions. In Dubai, competition in the market is vigorous and hence, customer acquisition in itself is as big a challenge as customer retention. Thus, achieving new customer growth is a big deal for the retailers.
50% retailers think brand awareness matters the most when it comes to retail loyalty solutions program
Quite similarly essential to the preceding 2 factors is the 3rd most important factor for retailer – brand awareness. Half of the retailers think that brand awareness can actually help their loyalty program in procuring good results.
How do I Set up a Retail Loyalty Program?
To set up a effectively customer loyalty programs in retail, follow these steps:
- Set Clear Objectives: Define your program’s goals, like boosting customer retention or collecting data.
- Define Program Structure: Decide on the rewards, earning and redemption methods, and membership levels.
- Choose a Technology Platform: Select a reliable loyalty management software or CRM system that suits your needs.
- Determine Reward Options: Identify enticing rewards that align with your target audience and business capabilities.
- Design Enrollment Process: Create a simple, user-friendly enrollment process to collect customer information.
- Promote the Program: Develop a marketing strategy using various channels to raise awareness about your program.
- Train Staff: Educate your staff on program details and how to enroll customers and address inquiries.
- Monitor and Analyze: Regularly track customer participation and analyze data to make informed decisions.
Remember to customize your rewards to fit your brand and continuously evaluate & improve it to keep customers engaged.
Contact Yegertek for availing cutting-edge retailer customer loyalty programs in UAE.