ROLE OF REWARDS IN DRIVING ‘VALUE SHARING’
“I do not love rewards!”, said nobody. Rewards are always exciting and free vouchers always boost the motivation of the customers. Also, customer loyalty programs are the best way to drive value sharing in the business either by helping in buying decisions or keeping employees motivated to achieve a certain goal. The end goal of every business has to be to achieve the buyer trust and a brand name of its own which only can happen with the help of high sales and motivated employees. Both the driving forces can be kept happy with free goodies that come as a reward to them. Value Sharing is an extensive subject that includes not only building on buying decisions but also include other intangible good a customer can do to a brand in terms of helping in word of mouth or act as a repeat customer. In short, a reward will make a customer happy and a happy customer will help in adding to the value share for the business.
Here are certain points to help you understand the role of rewards in driving Value Sharing.
- Satisfied Customer Base – Buying and purchasing is a daily activity a customer does but when the target audience shops he adds on to the credibility of the brand as a whole. On top of the quality products you promise, if the customer also gets a good discount or a buy one get one free option it will help in saving more and bring a purchase satisfaction to your customers. This will help you in retaining more customers.
- Win Customer Trust – Winning a customer is one thing and retaining the existing customers is another. Most of the times major brands also indulge in a plan to do a lucky draw and only one winner wins which in fact makes a lot of people disappointed and sad who do not win the draw resulting in a reduction in sales and unhappy buyers. Winning customer trust is important.
- Add More Customers – loyalty reward management programs in terms of discounts and sales often add on more footfall in your store or website and help in adding more customers to your database. Discounts and other rewards act as a driving force for the customers to invest more money in you than your competitor.
All in all, rewards are a win-win for both the buyers and the sellers where they gain in terms of a customer or retaining customer and the customer gets brands at reasonable prices. For more end to end reward program solutions, one can visit rewardport.in. Through research and collective expertise, we guide our clients with choices to help them motivate their people. Be its sales force, channel partners or employees. We motivate to enable people to do things differently, by developing their strengths, knowledge, and confidence. They care and focus to build a relationship with people… Forever.