A loyalty program is a strategy where companies offer customers discounts and rewards for being loyal to their brand. According to Tech Jury, almost 75% of customers prefer a company that has a reward program which is an excellent way to retain existing customers and boost sales.
Loyalty programs work in two ways. They reward customers for their repeat business and, at the same time, provide valuable consumer data to the business. The information helps the company analyze and assess which incentives are attractive from the consumer’s point of view. Another reason loyalty programs are effective is that repeat customers help recruit new potential customers at a fraction of the cost of standard marketing methods.
What companies aim to achieve with loyalty programs
According to the loyalty programs definition, companies reward their loyal customers in different ways. They can be in the form of points that are redeemed for discounts, rewards, free products, or insider perks. These programs encourage repeat purchases and foster trust between the business and its customers.
Here are just a few loyalty program goals that companies aim to achieve.
- Greater customer retention
The more a company rewards its customers, the more business it will bring. When consumers are happy with the products and services, there will be no motivation to switch to a competitor.
- More customer referrals
When a company gives hard-to-refuse offers and loyalty rewards programs, its customers will most likely tell their friends and family about the business. It helps generate referrals and potential customers with almost no customer acquisition cost.
- Higher sales
More customers mean higher average order value and sales. Recent research has shown that 1 out of 2 consumers agree they’ve spent more after joining a loyalty program.
- Customers turn into brand advocates
Loyalty programs can achieve what traditional marketing aims to inspire: brand advocacy. A successful rewards program turns your customers into brand advocates, introducing your company to new customers through a low-cost marketing strategy.
Loyalty program examples
Companies use various tactics to boost loyalty and reward their customers. Loyalty programs work best for this purpose which is why you can find different programs from brands in many industries. The following companies have created a successful one for their business.
Levi’s Loyalty & Red Tab
Levi’s loyalty program is subscription-based, and customers must provide their details to join. Once they become members of the program, they get access to new arrivals and limited-edition launches before non-members. In addition, they also get birthday rewards, free shipping, and the opportunity to avail of exclusive promotions.
Booking.com and Genius loyalty program
The booking service engages customers at every level of their purchase journey through its levels-based loyalty program. According to the rewards policy, users can create an account with lifetime access for free. On becoming a member, they unlock Level 1 and the discounts that accompany it. As they complete a particular amount of stays, they unlock advanced levels and get even more rewards. The perks include a complimentary breakfast, a free room upgrade, or a 15% discount on booking.
Atome+ takes the lead in loyalty programs for smart shopping
Atome+ brings a budget loyalty program where users can benefit from exclusive privileges and enjoy discounts by earning and redeeming points. Atome’s program is simple and effective- earn 1 Atome+ point for every $1 spent online and in-store. It couldn’t get any easier than that. The more you shop, the more points you earn. You can even get extra points when you shop at selected brands during bonus campaigns.
Usually, loyalty programs work in a way where customers cannot redeem points instantly at checkout, but Atome changes all this by offering instant gratification. You can treat yourself immediately with the points you earn after checkout.
With Atome+, there is more than one way to earn points. Apart from shopping at Atome merchant stores, you can supercharge your earnings by referring friends and joining challenges. It is up to you to redeem privileges from top brands or use your points to discount your purchases. Atome gives you complete freedom to enjoy its loyalty program as you see best.
How to use Atome+
Atome+ is a loyalty program in Singapore that’s designed exclusively for its users. The idea is simple- collect points and offset your purchases or redeem them for rewards. The program is available for all Atome members. This means if you’re a registered Atome user, you will automatically enroll into Atome+.
You can earn points by purchasing products and services from Atome’s partner merchants. Every dollar you spend allows you to earn 1 point. So, the more you spend, the more points you earn. How you redeem your collected points depends on your preference. You can either use them to reduce the number of your purchases or redeem one of the many vouchers from Atome+ rewards.
Each user can use a maximum of 12,000 points per month, but the remaining points remain valid for one year. You can always check the status of your points in the loyalty program app.
Become an Atome member and enjoy additional perks and privileges
Headquartered in Singapore with over 15,000 partnered merchants and available in 8 markets, Atome offers its users the choice and convenience of flexible payment options for a variety of products and services. The app allows shoppers to split their purchases across three interest-free monthly payments by scanning a partner retailer’s in-store QR code or upon website checkout. By splitting their payments, Atome users will be able to better manage their budget while making quality products and services more reachable.
Atome’s loyalty program has made this payment platform even more attractive for users because now they can spend and save simultaneously. With so many partner merchants on board, your shopping options are virtually endless.
Download Atome’s app now (Get the app) and become a registered member. You can not only split your payments into three parts but also earn points with each purchase. So, stop waiting and start shopping with Atome.