Enterprise loyalty programs are an excellent way for businesses to keep loyal customers coming back for more. They also provide a great opportunity to build brand awareness and drive new customers into your store.
You can expect to see a 10% increase in repeat purchases from customers who have been rewarded with a discount.
There are several reasons why companies should implement an enterprise loyalty program. First, it helps them to retain existing customers. Second, it allows them to attract new customers by offering discounts and rewards. Third, it provides a great opportunity to build up brand awareness and drive new clients into your store. Fourth, it gives employees a chance to earn extra money. And finally, it makes customers feel appreciated and valued.
The Importance Of Good Loyalty Programs, Even During A Pandemic
There is a serious competition amongst the currently ongoing digital loyalty programs in UAE in 2021. Amidst such vigorous standards set by top brands, it is quite a task to come up with successful enterprise loyalty programs, especially in Dubai – the global business hub!
Here are some crucial statistics to help you realise the importance of and the need for unique & customer-friendly loyalty programs:
Customer Behavioural Trends towards Enterprise Loyalty Programs
The statistics given below talk about what makes customers join or switch loyalty programs. Also, you will get immense clarity of what you should implement in your enterprise loyalty program in Dubai
- In a recent survey, more than half of the participants said that they would not opt for any other brand until they already like one. Amongst these participants 55% of them were older millennials, 53% of them were younger millennials, and 51% of them belonged to the Generation-Z.
This gives a clear idea why your customers would love to stick to your brand unless they meet with any negative customer experience.
- 78% of Customers admitted that they are willing to switch or withdraw their loyalty from a brand. It was statistically depicted that customers are falling back on their loyalty at a faster pace as compared to 3 years ago.
This is a wake-up reminder for brands to provide enticing rewards and benefits to their customers. There is always a competitor out there wanting to offer better perks. Customers will not think twice while switching to another loyalty program for the sake of better advantages.
- In contradiction to the previous year, when the promising deals gained the most loyalty, 61% of the customers today prefer financial rewards while 58% of customers like loyalty programs which are bespoke and tailored to their needs. (Adobe)
Customers appreciate personalise treatment and this is exactly what the above mentioned statistic proves.
Influence of Social Media on Customer Loyalty
Customers are fond of following their favourite brands on social media. That’s why many buyers follow owners of the brands they like to shop with regularly. The below given statistics clearly show the increasing significance of social media on customers and their loyalty.
- 49% of customers believe that social media posts of their peers and close circles massively influence their decisions to choose a particular brand.
Customers tend to rely on what their friends and family relatives think of a brand. Social media platforms enable people to share their views while influencing people around them.
- 30% of customers are influenced by brands and retailers they follow on social media platforms. (AdTaxi)
Brands are consistently utilizing social media reach to enhance their awareness amongst customers. You too can make the best out of your digital loyalty programs in UAE to maintain customer loyalty.
- 53% of customers prioritize and prefer brands which stay transparent on social media regarding their upcoming purchases. Also, 86% of customers would switch to a brand’s competitor in case of transparency issues. (Access Development).
Your brand must stay transparent for ensuring increased customer loyalty in the long run. Customers value their trust the most and expect brands to respect the same at every point of time.
- 31% of customers who are loyalty card holders follow their favourite brands on social media. This provides an additional platform to brand marketing teams for reaching out to their existing customers and keep them engaged.
Keeping your customers indulged in your brand events and programs is extremely essential. Your brand pages on social media must be kept up to date with the latest campaigns and offers. This will ensure that customers are constantly aware of your new products and discounts, resulting in increased sales. Seek professional assistance from a loyalty programs solutions provider in Dubai, such as Yegertek.
Mobile App for Better Customer Loyalty
If there are 2 brands, one with a mobile app and one without it – expect the crowd to choose the former. The below mentioned stats throw light on the significance of providing mobile app facility to your customers.
- 49% of customers are unaware of the fact that their brand loyalty programs have a dedicated mobile application!.
Just a gentle reminder for you to get your mobile app developed as soon as possible. This will give you a head start against your competitors and might help you gain more customers as well.
- 57% of customers who are existing members of brand loyalty programs like to participate and explore via mobile applications.
Having a mobile app for your loyalty program members contributes to a better experience for them. It relished the bond they have with your brand while making it convenient for them to make purchases.
- 33% of retail brands have introduced features which let their customers track loyalty points. Subsequently, 29% of retailers allow the customers to redeem the rewards and receive updates regarding new redeemable rewards and points.
Customers find it amusing to track their loyalty points. This factor contributes immensely towards their shopping experience. Mobile apps go one step further when it comes to customer experience by letting them collect their rewards from the comfort of their homes.
- 40% of brands are planning to incorporate mobile application payment features along with their customer loyalty programs in the coming 2 years.
Another functionality that can make your customers love your brand even more – let them pay comfortably! Payment facility through mobile applications increase the potential of your sales too as it drives-in more purchases from customers.
- 37% of survey participants showed interest in accessing their loyalty account through a mobile application. 49% participants had a desire to download mobile coupons while 46% wished to read product reviews of their brands on a mobile application.
This statistic proves how vital it is for any brand to have its own customer loyalty mobile application. Yegertek also provides mobile app development services in Dubai.
Get in touch with Yegertek – a leading customer loyalty and retail analytics company in UAE!
This statistic reference from eMarketer , Business2Community & Bond Brand Loyalty Report