Loyalty Programs for Holiday Season Campaigns in 2023
The biggest revenue-generating opportunity of the year 2023 is around the corner, the Holiday season! During the holiday season, companies strive to use marketing to evoke emotions, encourage sharing, and create memorable moments. They seek ways to distinguish themselves from their competitors by utilizing various marketing strategies and providing the best holiday purchasing experiences to connect with customers
While there is no magical formula for success, brands have discovered valuable methods for getting the best results from holiday loyalty program promotions. These strategies can help businesses in acquiring new customers and nurture them into devoted brand advocates. This period should be leveraged to maximize revenues and profitability.
1. Focused Loyalty Marketing Campaigns
Earning more loyalty points is always lucrative for a customer! Any campaign that allows customers to earn more loyalty points is bound to generate lots of hype. If used correctly, this strategy has the potential to increase sales. Yon-ka Paris, a leading beauty and cosmetics brand did just that. They provided 2X points on random promotion days. Customers were purposely notified of such promotions at the last minute. This suspense kept the members guessing and engaged with the program. At the end of the month-long campaign, Yon-Ka Paris witnessed a 2.26X increase in revenue. Similar campaigns can be effective without the need for cash discounts this holiday season. Such campaigns help brands to stand out and attract new customers in the face of competition.
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2. Enhance the In-Store Experience
Invite members of your rewards program to a holiday raffle, complimentary refreshments, or a DIY gift-making workshop. Make a special area for members’ children to have fun while their parents shop stress-free. Be sure to save the very best offers for your most loyal or highest-tier members. These initiatives can help you increase store traffic while also ensuring repeat purchases. It will also make your customers feel special and appreciated for being loyal.
3. Recommendations to customers
With the recession in the air, and inflation a very real part of the holiday spending story, it’s safe to assume that shopping for value will be a major trend this year. This holiday season, retailers must prioritize recommendations that focus on discounts, specials, and value for money. According to a Forrester report, two-thirds of US online adults find it valuable when companies recommend products that are on sale or offered with a promotion.
4. Think Beyond Discounts This Holiday Season!
A tiered loyalty program can allow brands to be loyal to their top customers. Early access to exclusive events or offers is a simple way to accomplish this. Brands incur minimal costs, but customers place a high perceived value on such gestures. It all boils down to improving the customer experience.
Brands need to spoil their customers and make them feel special! Customers should have a gamut of rewards to choose from, including but not limited to discounts. During the holiday season, people will be shopping for numerous items. If customers have the freedom to choose a gift card for different purchases, it will enhance their overall holiday shopping experience. This goes a long way in improving brand loyalty.
All these nuances of loyalty programs work in tandem to provide fantastic results. Some features work better for customer engagement while others improve the customer experience. Only in conjunction, can these features deliver all-around growth leading to higher profits. During the holiday season, marketers should focus not only on boosting overall sales volumes but also focus on delivering a great experience. The holiday season is an opportune time to drive increased traffic through loyalty promotions. If customers have a great overall experience this season, they will return for more!