Ensuring that your customers remain happy is important for your business. Happy customers are the best advertisement your business can ever have. One way you can ensure that your customers remain happy is to have a customer loyalty program in place to reward loyal customers for doing business with you.

A good customer loyalty program, when implemented properly, can increase customer loyalty and customer lifetime value. It will also encourage customers to spend more and make purchases more frequently which in turn increases your profits.

Depending on the kind of business you run, your customer loyalty program can take many forms. Here are a few examples:

Airlines have frequent flyer programs to reward customers who fly frequently with free flying miles which they can redeem.

Large retail department stores like Melcom have loyalty cards which customers can use to get up to 10% discount on every purchase above Ghc100.

Telecom companies like Vodafone have a mobile loyalty program which offers rewards to customers when they use the mobile app to perform certain actions like topping up credit.

At Invent Electronics, we have a point based loyalty program to reward customers for buying from us. When customers make orders from our site, they accumulate points equivalent to the value of their order. After the points reach a certain threshold, they can redeem them to get discounts for subsequent purchases.

Since introducing our customer loyalty program, we have seen more recurring sales and happier customers. Rewarding your customers pays a lot. If you run your own business you should definitely consider setting up a loyalty program.

Here are other types of loyalty programs you can learn about.