Why is building customer loyalty important for businesses to be sustainable and make profits? Well, when a customer becomes loyal to your brand, the chances of a repeat purchase will be much higher. And one of the easiest customer retention strategies any business can implement is a loyalty program. This is how LEGO does it well:
The LEGO VIP enables LEGO customers and fans to receive exclusive perks such as early access to exclusive sets, gifts and discounts, and get the latest news in the VIP newsletter. It not only creates a sense of exclusivity and community among members but also gives them an incentive to keep purchasing, therefore increasing Customer LTV.
Building customer loyalty can be as easy as building LEGOs! Here's another way:
- From your Shopify Admin, go to Customers to add relevant tags for each customers i.e. VIP.
- Install Konigle to your Shopify store.
- Go to Settings under Store design, enable Customer based pricing.
- Next, from your Konigle dashboard go to increase LTV strategy, implement ‘Customer Based Pricing’ tactic.
- Create new pricing rule to reward your loyal customers based on the tag created in Step 1.
- Send an email out to said customer group informing them of the exclusive deal.
Alternatively, you can enable the LTV Booster tool also available on Konigle, this tool automatically gives your customer a discount off their second purchase!