With the cannabis ban ending, markets are seeing new opportunities to increase their customer base. Cannabis retailers are recreating themselves, businesses are expanding their work, and potential customers are emerging. In this competitive age, cannabis retailers need strong marketing guidelines to retain their existing customers and acquire new ones. And one of the best ways to provide customers with an amazing product and an incredible experience is by introducing a cannabis loyalty program. It has been a proven method to boost customer retention and increase revenue. 84% of customers state that they’re likely to remain loyal to a company offering a rewards program, and 66% change their spending behavior after earning rewards.
Here are the top CBD loyalty program ideas for boosting customer retention and making customers come back for more:
Umbrella Loyalty Program
An umbrella loyalty program boosts retention and customer acquisition opportunities for CBD retail stores. An umbrella loyalty program will do wonders for you if you have multiple stores under your CBD company. It will include all stores of one retailer to avoid competition. It helps businesses by bringing all their consumers under one roof. The loyalty program offers amazing rewards to customers. It enables them to claim various rewards of their choice from a different brand, ensuring your customer chooses you over your competitor.
It offers more power to the customer by adding multiple-store participation. Rather than redeeming the rewards from a single store, they have a wide range of products to explore from different stores using reward tokens. Using the Loyal-n-Save umbrella loyalty program, you can offer your customers multiple reasons to stick with you and increase engagement. It eventually leads to retention and more sales for your business.
Personalized CBD Rewards Programs
Unlike generic loyalty programs, you can customize your CBD rewards programs for better customer retention. There are two structures: reward-tokens-per-visit and reward-tokens-per-purchase. Using the reward-tokens-per-purchase model helps you track your customer’s purchase. It is an amazing loyalty rewards program model as you know what and when your customers are buying and you offer them reward tokens. You can tailor the program specifically for CBD retail stores and customize every feature of your software accordingly. Keep them informed using emails or text messages. If your customer is just 2 reward tokens away from redeeming $15 in rewards, they will be incentivized to return sooner. You can also send them personalized deals and offers by tracking their past sales.
Multi-Channel Social Media Loyalty Program
By choosing a multi-channel social media loyalty program, you can transform your customers into ambassadors by having them earn rewards by posting selfies, creating how-to tutorials, or writing reviews. It boosts engagement with your brand online. That said, it is a win-win situation for both, as you earn customers and their loyalty and sales while they earn rewards.
Also, using a campaign builder loyalty program solution for CBD stores can work wonders for you. It allows retail store owners to create and run multiple-channel promotional campaigns. Therefore, you can simply create engaging marketing campaigns and share them with your new and current customers.
Refer-a-Friend Loyalty Program
A good way to incentivize your customers is by using a refer-a-friend loyalty program. It delights new prospects with an attractive discount on their initial order and rewards the referee with reward tokens. You can also offer several discount vouchers or gift options and make the referring customer choose, so you’ll know where their interest lies.
User Engagement Loyalty Program
One of the best loyalty program solutions for CBD stores is user engagement loyalty programs. It helps keep the customers engaged personally and turns them into loyal customers. They are the driving force behind boosting sales. Brands can launch omnichannel rewards programs so their customers are restricted to online or offline. They can redeem their reward tokens anywhere they want. Brands can also identify the best buyers and reward them with special things to motivate them to participate more. Lastly, brands can develop better customer relationships by interacting with loyal customers regularly and catering to their preferences. Using the Loyal-n-Save user engagement loyalty program, you can work on these things efficiently and increase customer engagement and retention.
Allow Loyal-n-Save to Develop the Best CBD Rewards Program for You
Implementing a CBD rewards program gets simpler with the right technology. Loyal-n-Save is one of the best loyalty rewards program providers for the CBD industry. Learn how Loyal-n-Save can effectively help you with the best loyalty program solution for CBD stores and make the most out of it. Contact us to schedule a consultation and demo today!
1. Can CBD stores integrate with POS systems?
Yes, with the help of an API that connects with your website and POS system.
2. Do you need to collect demographic and behavioral data for CBD loyalty programs?
Yes, you need behavioral and demographic information for your loyalty programs.
3. Do cannabis stores need to have an account with the loyalty program websites to start their loyalty programs?
Yes, an account is needed. When you sign up, you can customize and draft your own loyalty program.
4. Can a CBD loyalty program expand its customer base?
Yes, with the right loyalty programs, CBD retail stores will notice a whopping increment in their customer base.
This article was written by Loyal-n-Save, an omni-channel customer loyalty solution for retailers looking to increase customer retention and new customer acquisition.