If you’re a print on demand nutraceuticals, online retailer, you’re missing out on a lot without a loyalty program. Loyalty programs provide a unique opportunity for eCommerce stores to form deeper, closer relationships with their customers in today’s day and age. Most nutraceutical companies prioritize brand loyalty. As in all industries, it is much more expensive to acquire a new dietary supplement consumer than it is to retain one, so brands should invest in customer retention programs in addition to acquisition. Consumers today expect more than a promise in a capsule and appealing packaging.
WHAT IS A LOYALTY PROGRAM FOR AN ECOMMERCE NUTRACEUTICAL STORE?
A customer loyalty program for an eCommerce nutraceutical store is a tool for keeping customers engaged and loyal to your store. As a result, loyal customers will return to your site more frequently and in larger quantities.
Many loyalty programs reward you with points for every dollar you spend. Customers can use their points to save money on their next purchase or redeem them for a reward once they have accumulated a sufficient number of points. Loyalty programs in physical stores are typically delivered in the form of a card that is scanned at the checkout. In the case of eCommerce stores, the merchant will usually ask you to sign in, which will allow your loyalty information to populate and update based on any new purchases.
WHY YOU NEED A LOYALTY PROGRAM FOR YOUR PRINT ON DEMAND NUTRACEUTICALS ONLINE STORE?
The nutraceutical industry lends itself extremely well to incentive programs. High purchase frequency, customer lifetime value, and order values mean you can maximize your ROI while fending off and outperforming your competitors. Companies often focus on acquiring new customers because they believe that is what drives business.
However, studies shows that “loyal customers can account for up to 84 percent of total store visits” and that “loyal customers can drive up to 80 percent of a business’s revenue.” They are far more likely to make repeat purchases and spread the word about a company, and they cost far less to acquire and market. While acquiring new customers is important, investing in your existing customer base and turning them into advocates is equally important.
There are five primary advantages to developing a loyalty program for your print on demand nutraceuticals eCommerce store:
1. It enhances brand awareness.
Loyalty programs are simple ways to raise customer awareness of your brand and store. Customers become increasingly attached and, well, loyal to loyalty programs over time. It assists eCommerce stores in maintaining and building long-term customer relationships. You can target people who shop to save money and show them how much you appreciate their support. Customers may be more favorable toward your brand if they believe it provides them with great value. Making these positive connections in people’s minds can make them feel good about shopping with you.
2. It boosts profits.
Of course, one of the primary reasons for developing a loyalty program is to ensure a consistent flow of revenue into your company. By consistently providing rewards, coupons, and special deals to loyal customers, they may feel more inclined to shop with your brand. Even if people save money on your print on demand products and services, your discounts may persuade them to buy more than they would otherwise. Simply attracting customers to your store or website can increase your chances of making a sale.
3. It allows you to keep track of your customers’ purchasing habits.
Creating a loyalty program allows you to keep track of your customers’ purchases and spending habits more easily. This information can assist you in developing better marketing strategies and promotions. The data you collect can also assist you in learning more about your target audience. For example, asking customers for their addresses and birthdays can assist you in determining which locations and ages to target. It allows you to manage your inventory better, offer relevant sales/specials, and expand your CRM database.
4. It creates brand advocates.
People who return to your store and engage with it more frequently become brand advocates among their network of family and friends. This word-of-mouth marketing is priceless, as it is trusted even more than a doctor’s advice in some cases. But don’t forget that once these brand ambassadors have spoken out about their love for your store, they must feel appreciated. You can accomplish this by making special offers just for them. Current customers receive a discount for each person they refer, and new customers also receive a discount.
5. Encourage more shopping
Brands frequently use different tiers for their rewards members, encouraging customers to spend more money. The idea is that if you shop more often, you can save more money. Customers, for example, can unlock additional rewards and perks when they reach a certain dollar amount. You can provide free shipping and returns, gift cards, and additional freebies.
ARE YOU READY TO LAUNCH — OR IMPROVE— YOUR PRINT ON DEMAND NUTRACEUTICALS ONLINE STORE’S LOYALTY PROGRAM?
Customer loyalty programs make sense at every stage of a brand’s development, regardless of the size of your company. We can also assist you if you want to offer specific print on demand supplements as part of your loyalty program or create a white label for print on demand products. Fulfillplex is a top eCommerce fulfillment company specializing in providing the best print on demand services. Contact us right away to learn more about how we can assist your online business.