5 Ways Paid Loyalty Programs Can Bring Customers Back

StrategyDriven Marketing and Sales Article |Loyalty Program|5 Ways Paid Loyalty Programs Can Bring Customers BackReturning customers are something that all businesses want. Although coaxing new customers is great, it takes more time and resources to bring in new customers than it does to keep returning ones. One way of ensuring you bring them back is to offer a loyalty program. Here are five ways paid loyalty programs can bring customers back.

Why Are Loyalty Programs so Important?

There are many surveys out there that show having a returning customer is better than bringing in a new customer.
The probability that you will sell to an existing customer is around 60-70%. When you compare this to a new customer it drops to 5-20%.

Although you want to grow your business, you also want to increase your loyal customer base as well.

1. Customer Have an Investment

With a paid loyalty program, you have created a customer that has an investment in the company.
They are far more likely to return to your brand to utilise the bonuses and offers than they would if you had a free loyalty program.

2. Customers Feel More Exclusivity

Having a paid loyalty program makes customers feel more exclusive than a free scheme that anyone can join.

Not everyone will be willing to join a loyalty program that they need to pay for upfront, which means the members will have a core group of loyal followers.

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3. You Can Offer Better Rewards

Because you are receiving a premium for offering rewards and offers, you can afford to give better incentives than a free scheme.

This will be something previous customers may find interesting and coax them to return. It means the offers you give must be of such quality that they see it as an incentive to return.

4. You Can Offer it as an Upgrade

If you have customers who haven’t returned but are on a free rewards scheme then you can always tempt them back with an upgrade.

You might want to include it in a newsletter and offer a few months on the paid loyalty program for free.

This could be enough to bring those customers back and then get them paying for the upgraded loyalty program later down the line.

5. Creating Something Your Competition Doesn’t Have

If you have done your homework, then you should already know what offers or loyalty schemes your competitors have.
If they don’t have a premium paid loyalty program, then this could be the perfect way to entice new customers to come over to your brand.

It may also bring back those customers who have left your brand for others in your market. However, it must be of such quality that it is better than the free program offered by the other brands.

So, should you invest in a paid loyalty program for customer retention?

Paid loyalty programs can be a good way to bring back your old customers as well as bring in new ones. You must make sure that the offers are high quality and give your customers something they can’t find with your rival brands in the market.

6 Workable Strategies for Businesses to Differentiate Their Brand

StrategyDriven Marketing and Sales Article |Differentiate your brand|6 Workable Strategies for Businesses to Differentiate Their BrandIf you’re not the only player in your market, how do you plan to differentiate yourself from other brands? Well, the truth is, there’s a lot of antagonism in the business world, and simply being one step ahead of others does not help survive the tide. However, creating and providing exceptional products and unique customer experiences sets you apart – and it makes it more challenging to compare you with other options. So, if your goal is to build a remarkable brand, focus on being different.

Now, knowing HOW TO differentiate yourself from the rest is a daunting process. But once done, it gives your brand the upper hand and keeps everyone, including your customers, happy. For that matter, it’s crucial to know how to differentiate your brand from your competitors so that your brand strikes out positively.

So, exactly how can you put your brand on a high-reaching pedestal through differentiation? Offer a vast selection? Possibly. Look better? Perhaps. Compete on pricing? Not really! There are several ways brands can differentiate themselves – and none of them involve lowering your standards. Most of the strategies we’ll touch on in this article are actually about improving yourself. So, let’s discuss six effective ways to differentiate your brand from the competition:

1. Nurture and generate brand advocates

Brand advocates are people who are so enthusiastic about your products/services that they’ll tell their family, friends, and coworkers about it. They are also known as “brand evangelists” or “brand ambassadors.” But they begin promoting once they are convinced of the value you provide. They do this on their initiative, with no plea from your company. Consider it a positive word of mouth promotion with more persuasion from the advocates. So, if you wish to appeal to these brand advocates, offer them freebies and promotional items to nurture long-term relationships. You can also join hands and run referral programs and contests to help reach out to potential clients and customers. Indeed, this is an excellent and low-cost method of marketing your brand. Besides that, every brand advocate brings in three new customers on average.

2. Give your pricing a whirl

When done correctly, this can also be an effective technique of differentiation. On one end of the spectrum, a business can strive to be known as the “low price leader,” providing customers with exceptional value. On the other hand, they could be placed as a high-priced premium brand.

In some cases, an effective brand differentiation strategy can allow a brand to command a higher price premium than it would otherwise be able to. Walmart stores, for instance, are characterized by low prices and good virtues, which have allowed the company to change retail fundamentally.

On the other hand, Starbucks has persuaded customers that there is value in paying significantly more for premium coffee. So, learn from this and be active.

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3. Solve a real problem for customers

Create detailed buyer personas to determine which issues you should focus on solving. Buyer personas offer insight into your customer base’s main goals, challenges, interests, and pain points. You can then utilize these insights to identify critical issues your competitors aren’t addressing. Once you’ve identified the unsolved problems, you have a few options for resolving them. However, affirm it with your customers before instituting it once you’ve devised a strategy. Undoubtedly, this is an excellent strategy to attain brand differentiation.

4. Have variations and be socially responsible

This strategy is a great way to set yourself apart from the competition. But you must know where to offer variations in your product line. Once you’ve determined that your product is infinitely superior, expand its offerings. Take, for example, color. If your competitor offers a competing product in six colors, figure out how to provide your version of the product in ten colors. It’s a particularly effective strategy if you sell your products on a marketplace such as eBay or Amazon.

Other than that, according to a CGS study, nearly half of consumers were willing to pay more for socially conscious products. Donations to charity, community programs, sustainable manufacturing, and fair wages and benefits for your employees are all examples of social responsibility. It demonstrates that you care about people, whether workers or customers. Besides, customers prefer to do business with companies they trust.

5. Lean into your market

There’s no way you’ll be able to appeal to everyone out there. Everyone has different needs, interests, and motivations for purchasing. It isn’t viable to be so broad in your strategy that people become perplexed by your message. You should “niche down” instead. In a sea of generics, be the expert. Your niche segment also allows you to market how your brand differs – and outperforms – your competitors. Provide more exceptional value to your customers than they anticipate from you. Go above and beyond to meet their requirements. Determine what your customers require from you and what is most important to them. It could be how rapidly an issue is resolved, such as an exchange or return– knowing these things will boost your reputation and get you positive feedback.

6. Never compare your brand

H&M does not compare itself to Rolls Royce, nor does Rolls Royce compare itself to Mercedes-Benz Why? Because they are two completely different brands selling products at opposite ends of the spectrum.

88% of buyers now conduct online product research before making a purchase. Amazon reviews, YouTube, and other comparison websites have made it easy for people to learn everything there is to know about you before committing to you. Nothing, however, will reduce your perceived value more than being placed directly next to a competitor. You don’t need to draw attention to your competitors because people are interested in your brand. So, maintain a laser-sharp focus on yourself rather than your competitors in your marketing initiatives.

Conclusion

Lastly, you must understand that not everyone who sees your brand will love it.
Ultimately, most of the strategies above boil down to delivering a world-class customer experience. That leads to superior customer satisfaction, providing retention and long-term sustainable growth. Safe to say, differentiating your business is all about being outstanding and unique while presenting yourself to potential customers who adore you. Finding ways to distance your brand from its competitors will, of course, require a lot of consistent hard work and research. But the results are well worth it.

Best Practices for Creating a Successful Christmas Ad Campaign

StrategyDriven Marketing and Sales Article |Christmas Ad Campaign|Best Practices for Creating a Successful Christmas Ad CampaignIn the spirit of the upcoming holiday season, businesses need to take advantage of this opportunity by creating a successful Christmas ad campaign. To help create the best advert possible, companies may resort to hiring a video production London agency to help them refine the core objectives, audience, messaging and purpose of their Christmas campaigns.

However, to get the best results possible, it’s important to follow the best practices available and know where to get started. Let’s look at some of these today and how they can help your business succeed!

According to Ideal Insight’s blog post, brands such as Coca-cola, John Lewis, Burberry put in lots of time, money, and efforts in their Christmas Ads, and the report shows how successful they were, just in time for the 2021 ad releases.

It’s that time of year again. Businesses are preparing to start their holiday promotions, and you’re probably wondering how to create a successful Christmas ad campaign.

We’ve created this guide to know what steps to take to make your company the best it can be during this holiday season.

Why should I create a Christmas ad campaign for my business?

Creating a successful Christmas ad campaign can benefit your business in many ways. A holiday promotion is an opportunity to raise awareness of the company and its products, get new customers on board with deals or offers, and increase revenue by selling more gifts than usual during this time of year.

For example, if you’re a clothing retailer, your Christmas ad campaign might offer discounts on winter coats or holiday sweaters. If you run a restaurant, you might promote gift cards that can be used at any time of year. The possibilities are endless, so it’s essential to tailor your campaign to what will work best for your business.

Best Practices for businesses to create successful Christmas Ad Campaigns

There are many different opinions about what makes an effective advertisement, but there are also some general practices that are usually considered best practices. The following tips will help you create a successful Christmas ad campaign for your business:

Advertising Placement

Where you place your ads is essential, as it can determine how well the public receives them. For example, if you’re running a TV commercial, make sure to target programs that have high viewership and demographics that match your target audience. If you’re running an online ad, make sure to place it on websites that are frequented by your target audience.

Marketing Channels

Utilising a mix of marketing channels is an effective way to reach more people with your holiday promotion. Different types of businesses will have different channels that work best for them, but some general ideas include TV commercials, online ads, print ads, and social media campaigns.

Promotional Strategies

There are various promotional strategies that companies use to increase their revenue during the holiday season. Some businesses offer special deals and discounts for gifts, while others give away free items with purchases. A fitness centre could promote memberships by providing a limited-time promo code or exchange on gift packages.

When creating a successful Christmas ad campaign, it’s important to remember that there is no one-size-fits-all solution. By using the best practices above as a guideline, your business can create an advertising campaign to reach more customers and boost holiday sales.

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Examples of successful campaigns

One of the best examples of a successful Christmas ad campaign in profitability was Sainsbury’s in 2014. They ran a commercial called “1914,” which depicted the story of the Christmas truce during World War One on Christmas Day where British and German soldiers had a truce, cased fighting and played football. The commercial was very well received and helped boost Sainsbury’s sales by making £24 for every £1 spent on advert during the Christmas period.

Burberry ran another successful campaign in 2016 with their “The Tale of Thomas Burberry” ad. This commercial told how Burberry’s founder, Thomas Burberry, created the iconic trench coat and to help tell this story, the advert featured some established talent with actors such as Domhnall Gleeson, Sienna Miller, Dominic West, and Lily James.

The commercial was very well-received and generated a lot of online discussions, with many people praising its creativity. Burberry made a whopping £10 million during the 2016 Christmas season.

Tips for creating a successful campaign

Businesses can do a few things to create a successful Christmas ad campaign.

Firstly, it is essential to think about what makes your company unique and how you can communicate that through your ad.

You should also make sure that your commercial is engaging and creative, as this will help to capture people’s attention.

Finally, it is crucial to ensure that your budget is allocated in the right way and allocate enough money for marketing.

One of the best things to do when creating a successful campaign is to run it alongside an ongoing promotion or another ad; this will help your commercial stand out from others and make sure people remember both the product and what they saw in the advertisement.

It can also be beneficial if different team members are responsible for various aspects of the campaign, such as design and marketing. This will help to ensure that everything runs smoothly and that all of your bases are covered.

Bottom Line

In conclusion, creating a successful Christmas ad campaign is essential for any business looking to make a profit during the holiday season. By following these tips, you can create an ad that will be sure to bring you some extra business during the holiday season!

Planning an epic launch of your product – 7 steps to get it right

StrategyDriven Marketing and Sales Article |Product Launch|Planning an epic launch of your product- 7 steps to get it rightBuilding a new product is a daunting task that requires the collaborative efforts of many people. Once the product-development stage concludes, a fancy marketing campaign is used to glamorize the team’s hard work, labor, and perseverance, ready to compete against other products of the same league.

Now that the product is about to debut, a creative team put their heads together to create effective marketing campaigns. Brainstorming ideas and establishing strategies requires creative mindsets to devise campaigns that persuade the target audience to be curious and anticipated about the product.

Due to an ongoing pandemic, many organizations have started opting for virtual product launch campaigns that are convenient and cost-effective. Still, the conventional approach of organizing an in-person launch event has its charm.

A live event must be organized with precision, creativity, and originality to attract customers. To do just that, we’ve gathered a step-to-step guide for you.
Let’s get started.

Decide a Venue

Venue hunting is an exhausting and challenging task that requires months of preparation in advance. A good idea would be selecting a venue based on geographical location, target audience, public preferences, and activities arranged for the big day.

In addition, the venue must be eye-catching, with a theme that corresponds with your product and reflects on its ideology to offer a clear insight into its purpose.
Security should be your top priority to ensure a good experience during the event. For avoiding issues like event mismanagement, a good idea would be to stop uninvited people from coming in.

Creating security checkpoints, setting up barriers, and site fencing is an excellent idea to prevent gate-crashing during or after the event.
Pro tip – type in site fencing hire on Google to find and book reliable services to secure your product launch event.

Pick a date

Organizing events requires a lot of planning and time. Thus, a definite date is chosen, keeping in mind the time frame for event preparation is sufficient. Once a date is decided, virtual and physical announcements are made using social media platforms, newspapers, billboards, pamphlets, and television channels.

A wiser move is to choose a date considering religious or national events. For instance, hosting a launch event right before Christmas or Thanksgiving improves the chances of product purchases because people save and wait throughout the year to go shopping on Black Friday sales.

Establish Social Media Presence

Social networking sites like Instagram, Facebook, Twitter, and Tik-Tok have a significant impact on our daily lives these days. Socializing through these platforms is a norm, and it’s not surprising to find people spending time on these platforms for a casual break during leisure hours.

In the era of technology, it is pivotal to create a social media presence to reach out and circulate the message to the masses. Social media handles publicizing the products before the debut, easing the marketing process.

Another effective trick is collaborating with social media influencers and bloggers to create pre-event hype for your event. Their followers blindly agree to their reviews and recommendations and imitate their activities.

Give-Away Contests

Promotional activities before the event increase excitement and anticipation among followers and audiences. A promotional giveaway contest is an excellent move to gain more followers and popularity.

A good example would be clothing brands hosting giveaway contests before launching their clothing line by asking the participants to share their social media handles, create innovative content relevant to the product, or through quizzes.

This trick commercializes the event and helps retain customers in the long run.

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Seek sponsors for the event

Organizing huge events raises the question of finding sources for fund generation if you’re coming up short. While seeking external funding for a product launch isn’t a bad idea, there are several aspects to consider before reaching out to the big brands for sponsorship.

First, prepare a well-organized and detailed sponsorship proposal that bears all the details regarding the event, the shared benefits that sponsors would attain in partnering with your brand, and the monetary assistance required for the event.

Pick the right sponsors who align with your mindset, understand your goals, and take an interest in your campaign with room for flexibility. Finally, give exposure to your sponsors during the event to highlight their contributions.

Send-out Invites to High-profiles

The presence of high-profile personalities helps attract more people to a product launch event. A selective guest list is carefully made including, brand ambassadors, celebrities, journalists, social media influencers, and vloggers.

Event invites are sent to them to achieve great fanfare and publicity from their presence. Since many people attend the event for the sake of their favorite celebrity, having a celebrity or brand ambassador on board and introducing them as the face of the product is an excellent idea.

Upgrade the website

Many customers will be checking out your website during and after the event, which is why a choppy online experience is a big no-no. A slow, faulty website that crashes when customers visit will cost you customers and miss out on planned profits.

Hence, it is crucial to upgrade your website and system beforehand to avoid any issues for the customers.

Hire a good tech team to avoid website crashes during heavy traffic. Moreover, the design layout for the website must be appealing to attract buyers, with easy-to-use features. A complex website creates a negative impact and deflects the customers from adhering to the brand.

Additionally, every purchase allows customers to opt for email subscriptions for future updates. Conventional marketing through emails could bring loyal customers to the brand and update them about future product launches, discounts and sales ahead of time.

The Takeaway

Creating and successfully launching a product in the market is a massive challenge itself, while the additional errands of promoting the product through campaigns and social events increase the complexity of the situation. However, with thoughtful planning and vigilant execution, a product can be launched without issues.

A product launch event gives a teaser of months of hard work put in by the entire team, which is why it has to be appealing and exciting. Achieving goals in a specified duration and finally executing the plan with committed marketing strategies buys you customers that equate to company success and growth.

There are tons of ways and techniques to promote your merchandise; choosing what fits the best with your product is the key. With the steps mentioned above, your product will debut in the market with a bang.

The best techniques to close a deal!

StrategyDriven Marketing and Sales Article |Close a deal|The best techniques to close a deal!Closing a deal remains a crucial step in the sales cycle. It is therefore important not to miss a chance to close when the opportunity arises. Discover the best techniques to close a deal through this article.

Secure a deal through the sale price

The sales price is elastic. There are three ways to present it and turn a prospect into a customer. However, you can also turn to tools like Kaspr to help you convert your prospects into customers.

The addition of your features

Announcing the full list of your features is a very effective closing technique. It is a way for the prospect to have a full understanding of what they will pay for. It is the same principle as the shopping list. In addition, you can announce your price before or after.

Recurrent payment

Here, the price is divided into small units per day or month. Displaying a sliding scale price according to the package gives the possibility to highlight certain formulas and to nuance the investment. This closing technique is a classic in the SAAS sector. In order to reduce the perceived cost of the standard offer, the latter generally display a prohibitive premium price.

The Delta

You can advertise your selling price as “+X%” or “-X%”. You can also compare it to the market. This method will work if the solution you offer is easily comparable.

Introduce incentive bonuses

If your customer is hesitating for any reason, it does not necessarily mean that they are unwilling or unable to buy. It may be that the product or solution you are offering is not valuable enough to them for the price you are offering.

In order to close a deal quickly, it is therefore necessary to argue the perceived value of the product or to reduce the price.

The best way to increase the customer’s perceived value is to offer an incentive bonus. In general, the bonus should be valuable to the customer, even if it doesn’t cost you much. Remember that a high-value bonus is not necessarily a high-priced bonus. A high-value bonus is a valuable addition to the customer’s willingness to pay for the product. This is why it is important to have carried out good customer discovery beforehand in order to reach the target group.

In addition, in order to achieve an effective negotiation, you can reduce the price and at the same time ask for interesting counterparts for your company.

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Focus on scarcity of supply and urgency

Urgency and scarcity are effective ways of closing a deal. However, most salespeople use this technique inappropriately. The idea of this method is to communicate the feeling to your customer. To this end, here is what you can do:

  • Mention that you are limited on this offer or product.
  • Tell the customer that the offer or product is already of interest to several other competitors.
  • Adding that your internal capacity cannot cope with the current order volume and that this will undoubtedly lead to a delay.

There are many applications for this purpose. However, the most important thing is the reality of the points raised. You should always think about the elements that would really allow you to capitalise on urgency and scarcity. Credibility cannot be bought, it is built as you go along.

Draw up a balance sheet

When your prospect is hesitating, it is necessary to review the characteristics of your offer. This method is useful, especially for clarifying the sales pitch and closing a deal more easily. The aim is to clarify the situation in the customer’s mind with regard to the content of the offer and the benefits it can bring.

When you take up the whole offer, you logically explain the interest it presents to them. This makes it easier to reach an agreement.

Choose a tool that makes your job easier

A lead generation tool can also help you close a deal more easily. By multiplying contacts and focusing on the hardest-to-reach leads, you can use Kaspr.

Kaspr is a lead generation tool that allows you to get the contact details of your prospects via their LinkedIn profiles. This tool takes care of searching for this contact information in real time from the web. It is one of the best ways to get qualified information about your prospects in record time.

Conclusion

You can close a deal through the sale price and incentive bonuses. You can also use the scarcity of the offer. However, don’t forget to take stock and use an effective tool to help you in your approach.