Loyalty programs are everywhere these days. Very few prominent brands operate without one and to be honest, why would they?
Loyalty programs keep customers coming back for more. They improve their experience with your company, reward them for being true to your brand and give them offers that they often can’t find elsewhere. They also help retain customers in the long-run.
Many businesses know that retaining customers is a #1 priority but did you know that it's 5-25x more expensive to gain a new customer than to sell to an existing one?
From keeping customers happy and focused on your business to giving them a reason to be evangelical about your service, building customer loyalty will help you grow your operation.
Why does your bus company need a loyalty program?
Gain an edge on your competition - While people may not have many other bus options to choose from depending on where they live, many other travel options exist now from ride-sharing programs and short-term car rentals to taking the train and carpooling. A loyalty program will help set your business apart from the competition.
Improve your marketing results - Loyalty programs can also help you enhance your marketing efforts. They help you grain valuable data about your customers that can, in turn, help you create effective marketing programs. Also, studies have shown that consumers who are loyal to a brand are more likely to try new products, provide positive reviews and tell their friends and family how they feel. The more people that stand behind your marketing efforts, the better.
Incentivize sales by journey - Offer extra points on targeted journeys to increase awareness and ridership of new or under performing routes. Keeping your customers close and giving them something positive to talk about will only payoff in the long-run.
Offer more flexibility to customers - Customers who are true to your brand and aligned with your loyalty program will also enjoy the benefits of your program. They will be more inclined to make purchases with collected points and they will take advantage of special officers, in turn making them feel even more connected to your brand.
Reward loyal passengers for regular travel and encourage repeat business - By rewarding your loyal passengers over and over again, you will reap the benefits of repeat business. Why would a passenger go elsewhere if you're making them happy and they're enjoying the benefits they've earned from being loyal to you?
Is it time to create your own custom loyalty program?
Many travel operators have created custom loyalty programs over the past decade or two and while bus operators may just be realizing the benefits of such a program, airlines and train operators have reaped the benefits for years.
Customers see value. Customers book time and time again and operators gain valuable insight into their customers.
Some of our customers have added our loyalty solution to their Betterez platform – and they are now able to offer their customers rich points and rewards while tracking and managing the operation of their own custom loyalty program.
Is it time for you to create a loyalty program for your brand?
Are fee-based loyalty programs the next trend for 2019?
Loyalty programs have evolved over time and 2019 will be no different. According to Forbes, this year will be the year of paid loyalty programs where customers opt-in to pay for loyalty services beyond the typical small discount or free birthday gift. As customer behaviour and trends in technology (such as AI) evolve, so too will loyalty programs. Getting your brand on board with a loyalty program now will ensure you're set up for success in the future and will help keep your customers close and true to you.
Finding a solution that’s right for you can take some time but there are many experts out there – such as those on our loyalty team – who can guide you through what makes the most sense for your business.
To learn more about how our loyalty program can help you attract and retain customers – while giving you tools to more effectively market your business, request a demo now or feel free to reach out to me at firstname.lastname@example.org