loyalty programs Archives - Shep Hyken | Customer Service Expert

This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:  

What role do perks and incentives play in driving customer behavior?
How can businesses elevate customer experience and create additional value for their customers beyond their core products and services?
What challenges do businesses encounter when trying to provide complementary products and services to their customers?
How can businesses use special offers and benefits to motivate and reward their customers?
How do businesses in the B2C and B2B worlds differ in their approaches to offering additional value to their customers?

Top Takeaways

Proactively anticipate and address customers’ needs beyond your core product or service. Customers often face secondary and tertiary problems after making a purchase. Meeting them where they are and helping them solve these additional problems thoughtfully can create strong loyalty, engagement, and gratitude that can earn you customers for life.

By offering customers something outside of, but related to, your typical value proposition, you uplift their experience. This approach can set you apart from your competition and make your business stand out.

Every interaction with a customer is a chance to provide value. Businesses can take advantage of these opportunities by offering complimentary perks or rewards to engage, motivate, and reward customers for specific desirable actions.

When businesses want customers to take certain actions that benefit the business, they should consider what’s in it for the customer. Rewarding customers for desired actions can be a cost-effective strategy (and sometimes free) that provides value to the customer and the business.

Building and implementing a framework for offering complimentary perks and engagement programs doesn’t have to be overwhelming. With the right platform, businesses can streamline the process and launch loyalty programs efficiently, creating a seamless experience for both the business and the customer.

Plus, Shep and Mikhail discuss how companies in the B2B and B2C industries can best utilize customer perks and rewards. Tune in!

Quotes:

“Your job may begin and end with the sale, but customers often have secondary and tertiary needs that you may want to proactively address.” “Perks are not just engagement tools. They are a way to motivate and reward customers for taking specific and desirable actions that businesses want them to take. Most of the time, the cost of the reward is negligible, yet it provides value to your customers.” “Businesses should think beyond their core product or service and consider the problems that arise for the customer after the purchase. Proactively solving these secondary problems creates loyalty, engagement, and gratitude that brings in customers for life.” “We live in an incentives-driven economy. If you want your customers to take action, think about what’s in it for them.”

About:

Mikhail is the Founder & CEO of Paylode Inc and has been recognized by Forbes Magazine in the “Forbes 30 Under 30” list. He is the best-selling author of AI is My Friend: A Practical Guide for Contact Centers. Shep Hyken a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.  

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