Lead generation is often the first step toward boosting your sales pipelines and conversion rates. Most companies use a mix of strategies to reach their campaign marketing goals. Did you know that rewarding customer loyalty can also boost your lead generation success?
More than 90% of companies have some sort of loyalty program, according to Accenture. Rewarding customers has been proven to help businesses retain existing customers, attract new customers, and ultimately, drive profits.
It’s pretty simple. Companies that provide a superior customer experience have an easier time attracting leads. If you’re not looking at your customer loyalty rewards program as a lead generation strategy, you may be missing out.
Here are some ways to ensure rewarding customer loyalty fully supports your lead generation efforts.
It’s no secret that referrals from current customers are the most direct source of leads. That’s why strengthening the bond with your best advocates is an ideal way to build a more effective lead generation program.
The easier you make it for customers to submit a referral, the more likely they are to do it. Build a simple landing page with a form that can be filled out quickly.
Tip: Offer your current customers a Refer-a-Friend or Refer-a-Colleague reward that activates when their referral places an order or signs a contract.
These days, many consumers and even B2B buyers look to Facebook, Twitter, and LinkedIn for recommendations before making a purchase. Favorable mentions on social media are today’s version of word-of-mouth marketing and can help you attract leads.
Tip: Incentivize your customers by posting an offer rewarding customer loyalty on social media.
Rewarding loyal customers who leave reviews can help you build your brand’s online reputation and tap into new audiences shopping for your product or service. Did you know that on average, Americans who shop online expect a product to have at least 112 reviews before they would trust it?
The more reviews from loyal customers you have, the better the chances that bottom-of-the-funnel prospects evaluating your product will pull the trigger.
Tip: Be sure to thank customers who write a review of your company with a digital e-gift card — and promote that you do so on the review sites your customers visit the most.
Every loyal customer who renews, makes a repeat purchase, or upgrades their account is one fewer new lead you need to bring in to meet your sales or revenue goals.
Many companies, especially retailers, have embraced points-to-rewards programs for this very reason. Rewarding customer loyalty not only keeps these valuable customers engaged and coming back for more, it means less time spent on generating new leads.
Tip: Consider a points-to-rewards program where customers can collect points not just for purchases, but also for completing tasks that help you, like giving product feedback and attending training workshops.
Not sure if you should be rewarding customer loyalty with instant rewards, sweepstakes, or points-to-rewards? Download our Cheat Sheet to help you compare and choose the right structure for your rewards program.
BHN Rewards puts the power of digital rewards to work for marketers, researchers, and HR managers. Don't forget to check out all the great content in our Resources section!
BHN Rewards puts the power of digital rewards to work for marketers, researchers, and HR managers. Don't forget to check out all the great content in our Resources section!
