The Power of Customer Surveys in Rewards Programs … Is It Really That Simple?
As a customer loyalty and rewards solution provider, DBG Loyalty has seen both successful programs and programs that fell flat. A major contributor to any successful program is to know your customers and meeting their needs. Some companies are innately in tune with their customers, while others try to push their own initiatives only to find them rejected by their customers. Let’s not forget the importance of customer satisfaction. When a customer is satisfied high revenue increases, customer retention increases and operational expenses go down.
Ask Your Customers
Whether you are considering a new rewards program or revamping an existing one, the best place to start is by asking your customers. A good program assesses the customer’s interest, listens to their opinions and rewards them in the ways which are most valuable and meaningful to them. This is something you just can’t guess at, you must ask the customer directly.
Before surveying your customers, the budget and goals for your program must be outlined at a high level. Once you receive survey results, there is only a short window of opportunity to respond. No one wants to feel like their contribution went unheard. Likewise, an ambivalent survey confuses the customers, and won’t get you the answers you seek. Be clear and outline the questions to provide results which are useful and meaningful. Using a tool which provides analytics is important—it gives you the information to turn your findings into actionable items. DBG Loyalty recommends surveying your customers at least once a quarter and providing a dedicated area on your website to continually survey customers.
Is It That Simple?
Could it really be that simple? In our last blog we discussed how much cash back is given to a customer matters. There are a lot of cash back programs. Most banks offer at least one credit card with 1-3% cash back. Our question was whether or not these programs really drive customer loyalty or increase overall spend?
As you know from the small population we surveyed, the answer was that it takes more than 3% to change their behavior. In a situation where there are hundreds of credit cards with 1-3% back, the company who knows their margins, has set goals, and who has surveyed their customers could be a clear winner just by increasing their cash back by 1-2%.
DBG Loyalty considers providing a full suite of solutions for your rewards program a must. Facebook and social media have taught us that customers do have an opinion and want to be heard. Engagement tools are a BIG part of the DBG Loyalty suite. DBG offers a complete loyalty program from “earn” to “burn” to include the consumer’s complete buying cycle. One platform allows for consistent messaging, encourages spend and manages “earn through redeem,” to provide a closed-loop revenue cycle. Our solutions reward good consumer behavior, drive increased business and increased spend.
A Competitive Edge
It is imperative that your customer loyalty solution continue to evolve in order for you to gain a competitive edge over your competitors and to keep your consumers happy. DBG works hard every day to form lasting partnerships with our customers to ensure your program succeeds.
For more information about revitalizing your program or starting a new one, visit our website at www.dbg.com
DBG Loyalty is a leading innovator in loyalty and rewards marketing. DBG was founded in 2002 because the industry was looking for a trusted technology leader who could develop and establish consumer loyalty programs. DBG has customer relationships which span from the time of inception.
and loyalty solutions.
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