Tuesday, March 31, 2015

Design Your Very Own Loyalty Program

Creating your own loyalty program hinges largely upon one condition: honesty. Convincing people to participate in a study is one thing, but making them believe that their opinion matters is the tough part.

The term “Loyalty Program,” insinuates almost exactly what its name would imply: loyalty on behalf of the participant will be rewarded, in some part, by the host company. This is easy enough to understand, but with so many companies offering some sort of loyalty program—coupled with the fact that many loyalty programs involve the participant doing something that they do not want to do, like spending money or time—the term conjures feelings of unease amongst many.

Creating a great loyalty program means you have to create an exceptionally unique experience. Consumers believe in a product or service because they trust the brand, not necessarily because you offer the best deal. 

Creating a Profile

It might sound silly, but having a participant create a profile that the market researchers can refer to later when selecting participants for a study is something is crucial. Having the participants provide enough information means that researchers can easily sort through multiple candidates for multiple studies, allowing them to correctly place a candidate for a study where their information will truly matter. It also means that the consumer feels in control over their how they are being perceived and which surveys are presented to them.

This step of the process cannot be understated. Incentivizing something as simple as filling out a profile will mean market researchers can have the information that they need and respondents will feel listened to. It will also convey a message to the participant that online surveys do not have to involve any teeth-pulling.

Incentivizing Shares

Scenario: Subject A is a loyal participant. She is often called-upon to take part in a market research study, and gives insightful answers every time. Because of this, she has earned numerous gift card for her time.

Now, having someone like Subject A is really a privilege, but not capitalizing on Subject A’s proven credibility isn’t responsible. Setting-up a system where Subject A can refer like-minded friends offers more opportunity for Subject A to capitalize, and for the market researchers to reach an audience of potential participants. It’s a win-win for both!

Trust the Data

The reason why loyalty programs are established is so that participants are enticed to engage with the brand. Managing these loyalty programs so that they operate efficiently, and require little effort on behalf of the market researchers or the participants, however, requires something that makes all parties satisfied that they are getting the most out of the loyalty program.

Using a Point System Compensation tool, companies can easily create a loyalty program that gets participants compensated for anything, from setting-up their profile, to updating their contact information, and even referring relevant friends. Establishing and maintaining a loyalty program can require a great deal of attention, but the number of fields available to make for smooth sailing. Managing your loyal customers is even easier with these tools, allowing you to foster the brand-client relationship and pull smart data that is invaluable to enhancing your products and services. 

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