Keeping customers coming back is one of the hardest parts of running a business. Consumers now are more aware of the number of different businesses they can choose from and will rarely dedicate their loyalty to just one brand. If your brand wants to stand out and drive repeat purchases, you need an effective loyalty program. Shopify described 4 types of loyalty programs for E-commerce, which we will be discussing.
Benefits of a Loyalty Program
There are many benefits to implementing a loyalty program. The most important benefits of loyalty programs are:
☑️ Increased brand awareness
☑️ Consistent brand engagement
☑️ Improved customer retention
☑️ Additional customer spending
Did you know?
Best-performing loyalty programs can increase revenue from valuable customers who use points by 15% to 25% annually by boosting their basket size, purchase frequency, or both (Source)
Different types of loyalty programs
There are 4 different types of loyalty programs for E-commerce stores, as described by Shopify:
☑️ Points-based loyalty program
☑️ Tiered loyalty program
☑️ Paid loyalty program
☑️ Value-based loyalty program
These different types of loyalty programs all have their charms, with what category does Crowny belong? Well, even though developments are still taking place, Crowny could combine all different types of loyalty programs in one with the blockchain-based loyalty program software that we are building.
In the full article, you will find out:
✅ How Crowny combines 4 types of loyalty programs in one
✅ Issues with the traditional models
✅ The solutions Crowny provides to these issues
Read the full article now:
Shopify’s 4 types of loyalty programs for E-commerce