It is always a challenge to find and deploy different means to improve the performance of your e-commerce website. Your competitors are also doing their best to improve their results. They also would like to hold the loyalty of their customers to their brands. And they are after the same customers. 

You can retain your existing customers by using different loyalty programs. One of the ways you can keep the loyalty of your customers is by giving them rewards. Rewards are effective in making people attracted and glued to your brand. If you want to improve your e-commerce business statistics, consider these 5 ways of rewarding your customers. 

Give Them Referral Commissions

If your company is selling just one product, you can reward your loyal customers by giving them commissions on every person that they would refer. You can send email inquiries to your existing customers and ask them to give the names of their families or friends who would likely be users of your product. 

Be more specific with the commissions or rewards that you will give. There should be one type of reward for those who will give referrals and another bigger reward if that referral buys your product. 

This system would also apply to the number of commissions that you will give. In other words, smaller products and smaller quantities earn small commissions. Bigger products and bigger quantities earn bigger commissions. 

Your loyal customers are great in selling your product through word-of-mouth type of advertising. If you will use your customers’ testimonials, you don’t have to spend a big amount of money running big advertising campaigns to promote your product. 

All you have to do is to enlist the help of your loyal customers since they are already using and are satisfied with your product. They could also use their social media accounts to promote your products to their families and friends. 

Give Them Welcome Points

Many prospective customers are lured into buying products if they can see that there is an outright reward once they have made their payments. This is the reason why many companies are offering rewards in the form of welcome points to any new customer who signs up or who buys their products. 

If you link this initial reward to future rewards, your customers will consider this first reward as their head start. When that happens, you have earned the loyalties of these customers. Customers are made happier if they are given initial rewards in purchasing a product. This will likely influence them to buy more products from you when they again have a need. 

Earning points is also an effective way of holding the loyalty of your customers to your brand. Use a system in which every time they buy from you, they will earn some points. And then they are able to use those earned points in buying another product from your company.

Offer Financing Deals 

If you are selling big-ticket items, you must devise effective marketing schemes that will sweeten the deals. One of the best ways is to offer your loyal customers financing plans. This will not only make the deal easier for them but will also do good for your e-commerce business statistics.

You can keep the inflow of customers by offering discounts on your expensive products. However, discounts on your products would reduce your profit. One way of reducing the prices of your products and increasing your profit at the same time is through financing plans.  

Offering financing plans will not only bring in new customers but will also induce your existing customers to make additional purchases of your expensive products. This is proven by the study conducted by MMR Research, a global research company.

MMR revealed that customers who bought products through financing are likely to make an additional purchase from the same company. Additionally, MMR also discovered that about 33 percent of financing customers do make two or three more purchases. 

Give a Reward for Feedback

Your online business could reach the heights if you are taking careful notes of the feedback from your existing customers. The sales process does not stop once you have sold your product. It is only the beginning. A critical step in the process is customer follow-up.

Is your customer satisfied with your product? What are its features that make them happy and what are its features that they think need improvements? These are the types of feedback that will make or break your product’s future saleability.

However, ordinary customers don’t like to be bothered and won’t readily give their feedback when they are satisfied. But if your product doesn’t fulfill its promises, that’s when they are more than eager to give their feedback.

Don’t wait for this situation. Ask for their feedback early on and give them rewards for giving them. The rewards don’t have to be expensive. But choose to give them something that will make them feel special such as gift checks, special tokens and such like. 

Offer Trade-Ins 

Ordinary customers wouldn’t likely part with their old but expensive items for new and upgraded models. If your expensive items have just been upgraded, you could convince your existing customers to buy them by trading-in their old items. 

Your objective in doing so is to keep them going back to your company to buy reliable and durable products. If their problem is the high price, you can sweeten the deal by offering to buy their old product as a form of a discount for a new and upgraded product. 

Choosing the right rewards for your customer loyalty programs is very important. It takes effort because you are creating a relationship with your customers that will endure for many years. The suggestions given above are by no means the only ways to reward your customers. But if you use them, you will definitely improve your e-commerce business statistics.