Influencer Loyalty Programs: Unlocking the Benefits of Loyalty Programs

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Influencer Loyalty Programs Unlocking the
Benefits of Loyalty Program

• Building Long-Term Relationships

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What is Influencer/Referral Program?

• Loyalty programs is a successful strategy that
  brands use to reward their customers for frequent
  purchases.
• Influencer/referral program is one of the most
  effective ways to attract customers.Its when
  brands give influencers incentives or rewards for
  recommending their business.
• The benefits of having a referral program is it
  increases customer satisfaction, helps you gain
  new customers, and reduces the cost of acquiring
  new customers.

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The Logic
Identify brand influencers
Promote referrals
Reward everyone
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Features of influencer loyalty
program
Inclusivity
Word of mouth
Expand customer base
Monitor Influencer activities
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01 -Word of Mouth

• Word-of-mouth marketing has been proven time and
  time again as one of the most powerful forms of
  advertising.
• Referrals plays an important role for brand
  identity i.e., when you hear about a product or
  service from someone you know and trust, it is
  easier to make the purchase decision.
• Customers will always be more inclined to buy
  products and services that have been recommended
  by close friends or family members.

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02 -Expand customer base

• Influencers are people who have a large following
  on social media and through their activities,and
  they have the power to sway peoples opinions
  about products, brands or even other influencers.
  
• Connecting with influencers is a sure way for
  brands to expand their network, get connected
  with newer audiences and build better connections
  with them as well.
• This will helps to enhance brand credibility.

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03 -Monitor Influencer activities

• Brands should provide influencers a shareable
  link through which they can track down these
  influencer activities.
• Through this, influencers can receive rewards by
  the brands for promoting their business.
• This way, influencers will be more motivated.

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04 -Inclusivity

• One of the most important things that brands can
  do is to be inclusive and make all customers feel
  welcome.
• The key to making inclusiveness work for you is
  fostering relationships with customers and
  rewarding them when they bring new customers.
• Make them feel that their presence is essential
  for the brand success.

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Benefits of influencer loyalty
program
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Build Brand credibility

• Social media has given brands an opportunity to
  build their credibility. The first step is
  understanding your customers and how they
  interact with your brand.
• Brands should take a look at what types of
  content your audience engages in order to create
  more of that type of content and increase
  engagement rates.
• This helps brands to enhance their credibility.

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Increase customer lifetime value

• In the face of ever-increasing competition from
  other brands, retaining customers has become
  increasingly difficult.
• For most brands, it takes multiple factors before
  a customer becomes a repeat buyer.
• With increased brand identity, it would be easier
  to enhance customer retention and increase
  customer lifetime value.

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Speak customers language

• Many businesses are attempting to take a more
  customer-centric approach to their business.
• One way of achieving this is by making sure your
  brand speak in the tone and timbre that customers
  expect from you.
• When customers hear a brands message come
  through someone who knows their pulse, they will
  be more likely to stick with the brand longer and
  offer feedback or ideas back to the brand.

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Summary

• A well-executed influencer loyalty program helps
  brands to maintain their existing relationships
  with customers, as well as attract new ones.
• It also helps build a loyal customer base by
  rewarding their good behavior.
• Hence, tailoring an influencer loyalty program
  with special incentives and reward programs could
  be very beneficial for brands to take their
  business to next level.

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uencer-referral