Loyalty programs, also known as customer rewards programs, are a marketing strategy in which customers receive points redeemed for discounts, bonuses, or other benefits when they make purchases. A loyalty program rewards repeat buyers with incentives such as points, miles, or other credits that can be exchanged for discounts and prizes.
Ways in which Loyalty and Rewards Program Affect Customer Behavior.
1. Usefulness
Developing a loyalty program that is useful to customers positively affects customer behaviour. For example, customers will be more likely to purchase from you by providing points redeemable for merchandise, spa treatments, or gift cards. Customers are also likely to comply with your requests for feedback when they feel their efforts will be rewarded.
2. Consistency
Consistency between behavior expectations and rewards is an essential factor in the effectiveness of a loyalty program. If a customer receives points for every transaction and cannot consistently redeem them, they will begin to feel as though there is little point in doing so or that the rewards are not worth their time.
3. Identity
The company's identity in a loyalty program can affect a customer's decision to participate. If the program's purpose is to gain more customers, then highlighting that fact by making frequent announcements and conveying through materials and advertising will motivate customers to sign on.
4. Emotional appeal
A loyalty program is unlikely to be effective unless you can convince customers that it is valuable in some way. For example, it can be helpful to offer rewards based on the frequency of purchases, the total spent, or other factors that specifically pertain to customer spending behavior.
5. Differentiation
For a customer to care about a loyalty program, they should feel as though they are unique and distinct from other buyers.
Do Loyalty Programs Cause Consumers to Spend More?
The loyalty and rewards program can generate increased spending by consumers. Studies show that adding a loyalty program can increase sales by 5.6%. On average, customers are willing to spend a little more when they can earn rewards. They may perceive these rewards as more valuable or feel a stronger sense of obligation towards the company if they have loyalty towards rewards.
WaveToGet Reward Loyalty Program
WaveToGetReward is a loyalty program for small businesses. It was developed to make it easy for small business owners to reward their customers. To join WaveToGet loyalty and rewards program just
contact us and will set up personalized Loyalty and rewards program for you!
In summary, a loyalty and rewards program is an effective customer attraction strategy. Customers are likely to spend more if they can earn points redeemable for rewards such as merchandise or gift cards. WaveToGet helps the customers to get the information about their favorite products and brands at their fingertips. For more information,
contact us today!We have a perk code available for you! Download WaveToGet app, redeem SPRING1
perk code, and get 1000 points on your bonus account! The perk code is valid from March 18th, 2022, and available for redemption for the whole month, don't miss your chance, get your bonus today! 
