05 Dec
Consumers are always looking for ways to get the best deals.That is why sales programs like Year-End Sales, 11.11, and Black Friday are very well-received. The consumers’ desire for instant gratification combined with the increased need to engage with brands are transforming the retail landscape in Singapore. As such, brands are continuously challenged to find new ways of rewarding and engaging shoppers.
This scenario makes loyalty programs a key growth factor for businesses in Singapore, being an important tool for a brand’s customer retention efforts. In this time where consumers have endless options when it comes to their daily lifestyle choices, having the ability to keep your consumers loyal is a winning factor for any brand. In fact, according to a research done by Bond brand loyalty, over 70% of consumers are more likely to recommend a brand if it has a good loyalty program and more than 77% are more likely to continue using a brand’s services if it has a loyalty program.
The best thing about loyalty programs is that any business can benefit from it, not just conglomerates and MNCs with a deep reservoir of marketing resources. Hence, if you’re a business owner looking for a loyalty program app and don’t know how or where to start, then this article is for you.
What is a Loyalty Program App?
A loyalty program app essentially automates and simplifies the process for a business to build and execute a loyalty program. The app takes care of tracking customer behavior and day-to-day performance metrics such as:
- Number of customer visits
- Number of daily transactions
- Rewards given
- Sending notifications on special offers & promotions
and much more!
A loyalty program app also facilitates a customer to keep track of their rewards and manage their redemptions easily. For instance, a customer can decide whether he wants to have a free coffee for 100 points or collect 500 points to get free Nachos.
These loyalty apps are very easy to use – both for the business and for the customer. Hence, they are becoming exceedingly popular in Singapore, right from 1-outlet businesses to enterprise-level brands.
Drive exponential growth for your business with Loyalty Program Apps
- A loyal customer spends approximately 67% more on products and services than new customers.
- Even though loyal customers make up to 20% of your audience, they bring up to 80% of the business revenue.
- It is 5x times easier to retain a customer than gain a new one.
These stats clearly explain why focusing on retaining loyal customers should be a priority as it leads to increased footfall and a boost in revenue for your business.
Here’s how having a Loyalty Program app actually helps you retail your customers and increase revenue:
1. It is Automated.
Today’s apps are very easy to use and automated. The Loyalty Program app tracks all transactions, customer’s history, suggests you how to engage a segment of customers, sends them targeted offers & promotions, and all this without a need for a human to be involved. This saves time, money, and effort for business owners and staff, enabling them to focus on improving customer experience.
2. Enrollment is a breeze for customers.
Consumers today have more choices and shorter attention spans than ever before. They don’t want to go through the hassle of filling up long membership forms or download apps. Hence, getting customers to sign up is the most difficult part of having a loyalty program.
With the right loyalty program app that is quick and fuss-free, enrolling customer is a breeze. All it takes is 10 seconds to enroll a customer!
3. The customers come back for "the promise".
When a brand makes a promise to reward its customer, the customer’s brain starts putting effort to become eligible for the reward. With this brand promise, the customers feel connected with the brand, they visit more often and spend more in order to reach the specific targeted reward.
What to opt for: A Mobile App or Progressive Web App
Once you have decided to implement a loyalty program app for your business, the next question you need to ask is what kind of app is best for your business. There are usually 2 options to choose from: a Mobile App OR a Progressive Web App. Let’s look into the details:
1. A Mobile App
PROS:
- As these apps are specially built for your business, you can have any feature that your developer can code.
CONS:
- As these apps are specially for you, they are often very expensive. Some might go in the range of S$200,000.
- Customers might need to download the app to view their rewards. With hundreds of apps on our phones today, customers may not be happy or patient enough to download the app.
WHO SHOULD GO FOR MOBILE APPS: If you are an enterprise-level business with a big budget who want some specific features only for your business, then these specially coded mobile-apps may be your right choice.
2. Progressive Web App (PWA)
(Ideal for SMEs in Singapore)
PROS:
- PWAs already have almost all the inbuilt features that most businesses need. You can pick and choose from the list of features to come up with your own customized loyalty program.
- They are very affordable. In Singapore, the subscription may start from as low as S$100++ per month. Moreover, some are even supported by government grants, helping you to reduce the costs required to implement them. Click here to know more about the loyalty program app subsidized by Government Grants.
- Customers can track their rewards without needing to download the app
CONS:
- If your business needs a specific but rare feature that is not relevant to the majority of other businesses, it’s possible that PWA might not have it.
WHO SHOULD GO FOR MOBILE APPS: PWAs generally provide enterprise-level solutions at the price that SMEs can afford. These are best for small to medium-sized businesses. Even enterprise-level businesses looking for an affordable loyalty program solutions can go for PWAs.
This is where we come in. Advocado is a leading PWA loyalty program app in Singapore catering to businesses big and small. Take a look at their features and why they have emerged as the No.1 Cloud Loyalty Solutions provider in Singapore here.
How to proceed with the right Loyalty app if you are an SME
https://advocadoapp.com/contact-us/Most businesses who like to go for a loyalty program app prefer a progressive web app because they are:
- Built by loyalty experts, and therefore have all the features needed by most business to engage their customers.
- Mostly flexible & easy-to-use with customisable loyalty options and seamless customer enrolments.
- Quick and effective to implement. As these apps are “plug-and-play”, they can be implemented within days.
- Pocket-friendly, as compared to mobile apps that ar build specially for your business.
For more information on how to select the right app for your business, feel free to speak with our friendly loyalty experts for a FREE consultation.
