Debunking Common Misconceptions About Loyalty Programme

At the heart of a thriving business, whether small or big, is a loyal customer community. Hence, the popularity of loyalty programmes aimed at building lasting relationships between businesses and target customers.

However, there are misleading myths about loyalty schemes which are perhaps more popular than the scheme itself. This article will debunk these misconceptions and help you make better decisions when choosing a loyalty programme for your business.

Way Too Expensive

Loyalty programmes have cost implications like every other marketing effort. But data has shown that customers who sign up for loyalty schemes and redeem points are more likely to spend than those who don’t.

So, think about the return on investments and set up a loyalty programme today.

Too Complex To Integrate

A traditional loyalty scheme may be too complex to integrate into existing business models, but this doesn’t negate the fact that there are seamless loyalty solutions too.

A digital reward solution such as ThankUCash allows easy integration without affecting existing business processes.

Not Suitable For Small And Medium Scale Businesses

It is misleading to assume that only retail chains with huge customer base need loyalty programmes. The question should be, “Which programme is most suitable for your customers”.

ThankUcash is tailored to meet the needs of different businesses.

It Is Not Measurable

A loyalty programme that is not measurable is not worth attempting in the first place. This does not mean all loyalty schemes cannot be measured. Being a digital reward solution, ThankUCash provides businesses with metrics for measuring customer acquisition rate, retention rate, sales growth and customer lifetime value.

Customers Will Never Give Out Personal Details

Of course, we live in a world where customers are more conscious about their data and privacy. So, this misconception is not without basis. However, data has proven that, if asked for the right reasons, customers are willing to leave a trail of personal information with businesses which they hope to stay connected with beyond their first transaction.

Now that the myths are cleared, are you ready to set up a digital loyalty solution for your business? Visit www.thankucash.com/business to get started today.