Customer Loyalty Programs for Credit Repair Businesses
One important goal for your credit repair business is to gain new customers. However it’s just as important to keep your current customers happy so they will stay with you. One way to help your customer retention is through a customer loyalty program. You can show credit repair customers your gratitude by rewarding them for their continued business. Offering them rewards, discounts, and incentives.
Not only does a loyalty program provide a reason for clients to stick around it also creates a sense of community that becomes attractive to new clients. When they feel appreciated, customers will spread the word about their positive experience with your business, which in turn grows your customer base.
Additional benefits of implementing a loyalty program for your customers include:
Increased Brand Recognition
Creates Advocates for Your Business
Allows for additional Information Gathering
Uncover Up-selling Opportunities
Reduced Advertising Cost
Increase the Life-time Value of Your Customer
Builds Stronger Customer Relationships
Here are some tips for setting up a Loyalty Program for your credit repair clients;
Be Selective – Limit participation to those clients who spend the most or have been enrolled for a specified period of time. Buyers like to be acknowledge of their importance as it relates to others. Status levels such as, “Preferred Client”, “Loyal Customer”, or “VIP Client” carry significant weight.
Use Membership Cards – Issuing real plastic membership cards or virtual cards to your clients is a great way to build your brand image and create loyalty. A simple card which acknowledges their enrollment in your services, relays to your clients a powerful feeling of acceptance. A positive feeling which they will relate to your business and brand.
Start an Email Club – Invite clients to join an email newsletter which you offer only to VIP clients. Send emails with tips and advice, as well as special announcements or inside information. Be sure the content is useful and unique, so they feel like their part of an “elite group”.
Offer Discounts – Give your customers point based discounts. This means setting an amount of points for your customers based on how much they spend. Once they hit a certain amount of points, offer them freebies or discounts on your services. Consider offering discounts to long-time clients (like 10% off you next month’s fees). Whichever approach you take, it’s important to set limits. Make sure discounted offers expire and points require regular use.
Say Thank You – This is perhaps the easiest, yet most often overlooked way to reward your customers. Send a gift-card (for coffee or ice-cream) or a simple hand written thank you note to existing clients. Custom printed thank you cards reinforce your credit repair business brand. These messages can be tied to important milestones on there account, such as when their credit score improves or when x number of items are removed from their report.
Think about how you feel when someone takes time out of their day to recognize your contributions. It makes you feel special. Successful credit repair experts are good at making their clients feel special.
No matter what you do, taking care of people is crucial to your success! (click to tweet)
There is a good chance that you wouldn’t neglect your friends for six months, so don’t neglect your clients either!
I want you to do two things;
1. Leave a comment at the bottom and tell me your favorite ideas for keeping in touch with your existing clients.
2. Create a list of your most valuable clients. You can then decide how to engage with them, using the tips from above.