Building a Successful Customer Loyalty Program in Retail: Interview with Nicole Reyhle
Creating customer loyalty is tricky when the average attention span of online users is less than that of a goldfish and the customers are burdened with unlimited choices. Nevertheless, customer loyalty programs still remain a top favorite among retailers for customer acquisition & retention. According to Nielsen 84% of consumers are more likely to choose retailers that offer a loyalty program. Subsequently, it becomes imperative for modern-day retailers to build customer loyalty programs that engages consumers at multiple touch points and encourages them to spend more at the store.
Zinrelo has been reaching out to key influencers in the retail space to get their expert opinions on the key factors that are crucial in building and implementing a successful loyalty rewards program in the retail industry.
We reached out to Nicole Reyhle, who is the Founder and Publisher of RetailMinded.com. Reyhle is a frequent guest and contributor to various media outlets that include The Today Show, Forbes and countless B2B publications. Additionally, Reyhle has been the Spokesperson for American Express’s Small Business Saturday since 2014 and is the Author of the book “Retail 101: The Guide to Managing and Marketing Your Retail Business” from McGraw-Hill.
Q & A Excerpts – Building a Loyalty Program
Zinrelo: What are the key features that retailers desire in a customer loyalty program?
Nicole: Retailers look for ease and effectiveness when aiming to build a loyalty program. It must make sense and be rewarding for their customers but also be easy to manage and effective in gaining results on their end.
Zinrelo: Top strategies for retailers to encourage customers to engage with their loyalty program?
Nicole: Among the best ways for merchants to strengthen loyalty and activity from their loyalty program includes having employees trained well to incorporate this as part of their check-out process. Additionally, offering text reminders or incentives to customers who welcome this is a great way to keep your store top of mind among consumers and as a result, staying loyal. Social media and email marketing continues to help this, as well.
Zinrelo: How retailers can measure the success of a customer loyalty program?
Nicole: Data is important for merchants to utilize and ultimately apply to their businesses, and loyalty programs are no different Measure the frequency of how many total customers in your data base are actively using your loyalty program versus just signed up for it, as well as react to the highs and lows you identify based off the data you generate.
What are YOUR go-to strategies for building a strong customer loyalty in your retail store? We’d love to hear your ideas!
More About Our Influencer: Nicole Reyhle
Nicole Leinbach Reyhle is the Founder and Publisher of RetailMinded.com, a well-respected industry publication that has been recognized worldwide for its leading retail insight. With a core concentration on independent retailers and small businesses, Reyhle is a frequent guest and contributor to various media outlets that include The Today Show, Forbes and countless B2B publications.
Additionally, Reyhle has been the Spokesperson for American Express’s Small Business Saturday since 2014 and is the Author of the book “Retail 101: The Guide to Managing and Marketing Your Retail Business” from McGraw-Hill. Reyhle writes regularly as a retail thought leader for various industry resources that include Entrepreuner.com, Fiverr.com, Forbes, IBM and more, as well as having taught Retail Management at Columbia College for 8 years as part of their adjunct faculty.