Instant Rewards, Lasting Loyalty: Maximize Holiday Sales With Real Time Accruals (Part 2/5)
For businesses, the holiday season means a surge in traffic, spending, and engagement—the beauty of a loyalty program lies not just in rewarding customers, but in its ability to engage them in a way that drives long-term value. With real time insights, you can offer personalized promotions that capture your customers’ attention and influence their shopping behavior in the moment.
There are 5 ways omnichannel loyalty marketing can revolutionize the holiday season:
- Omnichannel signups
- Real time loyalty accruals and benefits
- Targeted customer engagement
- Personalized account pages and receipts
- Customer referrals
So, how can loyalty rewards and customer loyalty programs help you maximize the shopping season? Let’s explore the second step in building a seamless and engaging holiday loyalty strategy: real time loyalty accruals and benefits.
Real Time Loyalty Accruals and Benefits
Personalize Promotions to Increase Average Purchase
Personalized promotions are key to driving higher purchase amounts, whether your customers are shopping in-store or online. Real time loyalty accruals allow you to tailor promotions based on customer preferences, making them feel appreciated. Here’s how you can engage customers in various stages of their buying journey:
1. Sign-ups, Visits, and Referrals
Encourage early sign-ups to your rewards program, offering special loyalty card bonuses for first-time customers. You can also offer incentives for referring friends and family to join your loyalty scheme, ensuring you grow your customer base while rewarding loyal customers.
Leveraging social media can amplify your loyalty campaigns and connect with customers in real time. Posting time-limited offers, such as BOGO or frequent buyer programs, can create a sense of urgency and encourage followers to take advantage of promotions before they expire. Engaging with customers on social media also strengthens relationships, creating a more interactive and personalized experience.
2. In-Store Purchases
Order total promotions can offer discounts or bonus points for customers who prefer shopping in-store based on the amount spent. Plus, product-specific bonus accruals allow you to target items that need a sales boost, ensuring you increase the average transaction value.
3. Online Purchases
Targeted sales prices and cross-sale promotions can encourage higher spend during online checkout. Flexible points conversions offer further incentives by allowing customers to redeem points for Loyalty Dollars, gift card credits, or promotions. Offering BOGO (Buy One, Get One) or frequent buyer programs can also drive repeat purchases, keeping customers engaged and returning.
The Power of Real Time Insights
A seamless experience is what builds strong customer relationships in today’s competitive market, not just rewards. Real time loyalty accruals allow businesses to quickly react to customer behavior, offering promotions at the perfect moment and ensuring a tailored experience that encourages customer loyalty.
With customer loyalty programs, you can offer points for every purchase, which convert into rewards over time. But this doesn’t stop at just earning points—real time accruals and rewards programs can be leveraged to target specific campaigns to increase sales and improve engagement.
Some loyalty program structures to consider:
Points programs: Customers earn points based on purchases and can redeem them for rewards.
Loyalty Dollars programs: Points accumulate and can be converted to store credit, creating more customer flexibility.
Total purchase accruals: Customers earn rewards based on their total spend.
Product-specific bonus accruals: Encourage targeted product purchases by offering bonus points for specific items.
A paid loyalty program works by offering customers the ability to pay an upfront fee in exchange for exclusive benefits, such as higher rewards, free shipping, or priority access to sales. This type of loyalty program can generate immediate revenue for the business while providing extra value to the most dedicated customers—especially effective if you’re looking for a more predictable cash flow and a higher level of commitment from participants.
By using real time data, you can track customer behavior and adjust your promotions accordingly, whether through viral coupons, awarded customer-specific coupons, or time-limited promotions. This flexibility is what separates the best retail loyalty programs from the rest.
Manage Loyalty Seamlessly
For businesses of all sizes, loyalty management can be a daunting task. However, with bLoyal’s loyalty platform, managing loyalty accruals and benefits is easy. The system’s machine learning capabilities allow for automatic customer segmentation based on lifecycle events and behaviors, creating a truly personalized experience for each customer.
With real time loyalty accruals, the process becomes automated, saving valuable time for your staff to focus on engagement. You can set up campaigns that run without manual intervention, ensuring that promotions reach customers in real time and have an immediate impact on customer lifetime value. Whether it’s tracking customer data, adjusting for program liability, or offering personalized loyalty rewards, bLoyal’s platform does the heavy lifting for you.
Impact on Customer Retention and Acquisition
The impact of real time loyalty accruals goes beyond the holiday season. By offering customer loyalty programs that drive customer acquisition and retention, you create lasting value that keeps customers returning year after year. Tiered loyalty programs allow customers to climb the ranks based on their spending, offering greater rewards as they spend more, further solidifying their loyalty to your brand.
Furthermore, coalition loyalty programs can help businesses cross-promote with partners, providing additional value to your loyal customers while attracting new ones.
Key Takeaways
Personalized promotions—tailored to specific preferences and behaviors—will drive higher average purchase values and engagement.
Real time loyalty accruals help businesses respond quickly to customer behavior, influencing their purchase decisions and customer lifetime value.
Using a loyalty program to offer rewards like loyalty dollars and points can increase customer retention and customer satisfaction, and encourage repeat purchases.
bLoyal helps brands free up time and maximize the impact of their campaigns.
Now is the time to implement a rewards program with real time insights and personalized promotions for a shopping experience that delights customers and maximizes your bottom line. By embracing real time loyalty accruals, you’re not just improving your loyalty scheme—you’re building a customer loyalty program ready to deliver year-round results!
Don’t miss out on part 3: targeted customer engagement.
