Fusion Marketing: Loyalty Programs

Don't you just love programs where everyone benefits? Creating a fusion marketing strategy that benefits everyone involved is a simple process, but it's not easy. It takes commitment, follow-through and constant evaluation. An official Loyalty Program is a more formal way to offer discounts to customers.

At the heart of any "added value program" is the need of your customers. If people already are using your products and services, wouldn't it be nice to give them something in return for their loyalty. And, that loyalty reward program does not necessarily have to cost you. Your fusion partners are important elements in this equation. You may choose partners who are targeting a very specific segment of the market.

The process can be a bit laborious but it is worth the effort.

• Survey your current customers to determine what businesses, in addition to yours, they most often use.
• Consider who you know and respect in those other businesses categories
  
• Invite these business owners to meet to discuss what they would be willing to offer customers and what they would be willing to do to facilitate the program.
• Create a promotional piece that reflects all business offers. This piece should be used by all participating businesses.
• All must commit to honoring all referrals and leads that are generated as a result of this program.
• Determine ways you can promote this program to all your customers - give promotional piece to each customer, include in all print and internet communications, include in advertising campaigns, do a press release about the program.
• Schedule regular meetings, either in person or via teleconference, to determine effectiveness and success of the program
• Don't expect an immediate return on your effort. Give the program time. It may take six months or more for customers to become aware of and comfortable with the program.

One business we are working with offers prenatal and postpartum family support. They have considered other businesses that may be targeting this specific audience - pregnant women and those who have recently delivered. Their plan is to anticipate the needs of these families and provide resources and solutions to potential concerns and challenges. They have reached out to a nanny provider, house cleaner, errands runner, gift company, photographer, financial planner, parent coach and fitness expert to offer special discounts to their clients. They have produced a booklet describing the businesses, how they can help a new family, contact information and discount being offered.

Workload and cost is shared among the group. The key to success is the commitment on the part of all participants to use the materials created and to introduce the program to every client they meet. Everyone benefits!

Pam Small is the owner of Refresh & Renew - A Resource for Women. Having a heart for women's issues, Pam is quickly becoming the go-to person for helping small business owners target their marketing efforts to this powerful buying group. For more info, visit www.refreshandrenew.com or email Pam at psmall@refreshandrenew.com.