A loyalty program refers to a marketing strategy used by merchants to encourage customers to continue to shop or utilize their services. Sometimes it could include giving incentives to repeat customers who exhibit loyalty. The dream of every merchant is to have a customer base made of mostly loyal customers. It’s not only because they like the products but also because they act as evangelists of the products and services. Edenred Singapore is among the most successful companies to have spearheaded fruitful rewards programs. This exercise nonetheless demands the best decisions on rewards given, time to launch and comprehensive research. In this article we shall be discussing 5 examples of loyalty program names done right.
In the recent past research has it that most firms offering loyalty programs have failed. It’s hasn’t been attributed to wrong decision making or huge planning mistakes but elementary errors. Who could imagine that inappropriate naming of the loyalty program could hinder its success? The loyalty program name is the one that sets the tune for buyers or shoppers. Many merchants however forego this and end up obtaining undesired results. When assigning the name, make sure it’s mouth-watering. It has to be appealing to lure shoppers. Exclusivity is what creates curiosity to shoppers and they’ll always feel the urge to join the moving current. Just to set the pace to this, we shall look at some ideas to consider while assigning loyalty program names.
This helps to set the first impression a shopper has towards the program. A good name should stir the emotions of the shopper. The name should go far and beyond the ordinary perception. This is among the many factors that will make a customer come back a second time. The emotion however should align with the goods or services you offer. For instance, if your product is meant to be used by men, the emotion that you should create is confidence. Men value confidence and this will most likely be eye-catching. If your brands are for ladies, the gear should be towards beauty and elegance.
The use of currency in a name creates a niche for exclusivity. The moment a customer perceive a name that relates to currency, it’s obvious that they will want to dig deeper and associate themselves with it. Customers will always side with a mentality that in the long-run will deliver value. It acts as a bonus and often adds weight to the equation. Take an example of a cosmetic firm that gives away “Beauty Bucks” and a corresponding competitor that goes by “Beauty Points”. That alone will create a dilemma that will force the shopper to incline on the side that looks exclusive. Placing value consequently gives a cutting-edge. The two factors work hand in hand to give the desired results. They will always give you an upper hand in value addition for name selection.
Effective Loyalty Program Names
Most loyalty program names are given just to serve the purpose. It’s not actually discovered by many but effects to the impact. When choosing a name, you should consider one that creates zeal in a customer. A name that inculcates being part of something bigger than just a customer. This makes the customer feel fulfilled and helps them take pride. The names should create strong emotions and keep the customers engaged. At the same time, the name should give a hint of the products and services involved to new customers. Don’t give your loyal customers a difficult task of explaining to new people what you are all about.
Some of the best program names include:
This is a firm popularly known for its music instruments and accessories. This company is renowned for guitar strings. Their name isn’t only intriguing but also spot on. They decided to brand themselves after their unwavering customer called “Players”. The brilliance of their name comes in two levels. The first hints at the people who will most likely benefit from their products i.e. players of instruments. The second level is the word circle. This signifies people with a common interest. In this case referring to like-minded instrument players. Any instrumentalist would like to be part of such an exclusive group. The entire name points the beneficiary and the same time creates the desire to join.
This is yet another splendid name selection that will leave you suspended. The first word of interest here is insider. This gives access to exclusive rights involved with this firm. It helps a client know that by joining this program, they will be better placed than the rest. This in itself creates a great emotional drive to join the program. Gilt implicitly gives an idea to some of the rights a person has access to after joining the program. They include new products and promotions that others can’t access. This kind of fascination creates room for vehement engagement rate and guaranteed satisfaction.
This firm is largely known by hockey players. Their products and organization in the services they give has demanded popularity in exchange. The name itself gives a hint to what the supply. In the culture of hockey, naming of players has been characterized by addition of suffix “er” or “y” to the original names. For instance if a player’s name is Daum, the resulting name would be Daumer. Another example is Shultzy for a player called Shultz. This particular firm therefore targets hockey players. It’s quite apparent that they have incorporated the naming culture in their brand name, GONGSHOW’s Gonger Nation Rewards Club. This creates a link from the target demography to the brand culture.
This is a very popular loyalty rewards program for makeup artists. VIB in this context stands for “Very Important Beauty”. This is undoubtedly a concept borrowed from VIPs (Very Important Persons). It’s among the best known loyalty programs and makes a subject for many marketing case studies. For a customer to join the VIB category, they must have spent $1000 in the firm for a calendar year. It may be perceived as a membership fee but the program prides in it for the elite feeling that comes with it. This program is widely known in social media as #VIB Rouge and connotes a certain class. The name has been a weighty factor in its success.
This marks a brilliant word puzzle for this Canadian based health supplement firm. “Rad” here has been used as a perfect marketing ingredient. It’s both a vegetable and a synonym for good. Rad(ish) therefore has been used to provoke the emotions of the clients. First of all the word is simple to remember yet very unique. Additionally, the word hints to what the firm sells and the way the use of those products will make you feel.
You are the one who knows your brand best. It’s just a matter of creativity to come up with a unique name. One that hints to your products and services and goes a step further to create a desire to join. It’s about time.