How to Start a Customer Loyalty Program for Your Small Business?

5 Easy Loyalty Programs You Can Build Today | TheSelfEmployed.com

 

Introduction

Creating useful and effective products is only half the job when running a business. You should also attract customers who will contact your company. It's a well-known fact in business that it costs more to acquire customers than to retain them, so why not create something that makes them stick with your brand? Creating a loyalty program that encourages customers to return and make another purchase, whether you are a supermarket chain or retailer, is one example.

This blog post will share some important guidelines to help you build an effective loyalty program so that you can benefit from both high sales income and loyal customers.

What Business Gets With a Customer Loyalty Program?

According to statistics, 75 percent of customers are more likely to make a second purchase if a reliable and beneficial incentive is provided.

  • Cost Savings and Better Sales Potential - Only happy and satisfied customers are loyal to a company's brand, business owners understand. As a result, they implement loyalty programs.
  • User-Trusted Reputation - A company's reputation with its customers is the foundation of its success. Through a loyalty program, a company's brand/image can be enhanced by getting loyal customers to write reviews and produce internet review-based content for your business.
  • Spreads Good Word of Mouth - When you offer rewards and incentives to attract and retain customers, they will surely invite their friends and family. From a creative standpoint, you'll get verbal ads for a large number of potential customers as your loyal customers share insights with people they know, such as family, friends, and coworkers.
  • Keep Customers Loyal - The effectiveness of your loyalty program is determined by how well you meet the needs of your customers. Customers develop a strong relationship with your brand after providing desired rewards and discounts when you make a purchase.

                                                                           GET A QUICK DEMO - Loyalty Rewards Program Development

8 Important Elements to Include: Starting a Customer Loyalty Program

Here's how to create a loyalty program that will delight you and your company's revenue model:

1. Find the Perfect Name for Your Program

A good name should not only stand out from the crowd; It should also suit the needs and requirements of the customer. The basic tenet of a loyalty program is to pique the interest and curiosity of the customer.

2. Instigate a Profound Meaning in the Program and Its Name

You must ensure that your loyalty program is more than just a tool for connecting customers to your company. It should be relevant to the customer and add value to their buying experience at your establishment. You can achieve your desired customer retention rate over time.

3. Offer Incentives Across a Range of Customer Actions

Will you reward them just for purchases? Or will you reward them based on reputation for other consumer actions such as reviews, social interactions and content sharing? You should reward all types of offers or discount codes, and make sure they are satisfied with the appropriate offer.

4. Plan Multiple Reward Types

Introduce a variety of rewards and incentives to your loyalty program. For example, you cannot continue to give discount codes to customers, especially those who are not at the same level or are buying the same products. Through the mobile app, you can allow customers to accumulate points and then choose between free products, movie tickets or perks.

5. Calculate and Add Value to Customer Loyalty Points

Loyalty points are seen as a marketing tool that encourages customers to return and make more purchases. Let's say you sell shoes, but there are many other shoe stores in the area. If so, what specific benefits do customers get when they buy your shoes?

6. Introduce Non-Monetary Incentives to Loyal Customers

Non-monetary incentives can also help your business grow and delight your customers in every way possible. You can express your sympathy for the difficulties of your customers.

7. Allow Enrollment via Several Gateways

It is best to promote the benefits and educate your current customers about your loyalty program. Most importantly, you will need to provide multiple sign-up options for your loyalty programs. For example, some of the most prominent business leaders in certain industries allow customers to enroll in loyalty programs through credit/debit card purchases.

8. Work Out Partnerships for Inclusive Incentives

What's stopping you from allowing another business to enter the lottery if you're offering some sort of reward, such as sharing the names of your most loyal customers? A company that makes wireless headphones or earphones, for example, may include its own product to entice you to interact with customers through a loyalty program.

Most Practical and Effective Customer Loyalty Program Ideas

As a small business, you must remain market-innovative. This is due to the fact that not all growing businesses benefit from a significant increase in sales or profits. In addition, large corporations have a constant financial clout in the market, allowing them to perform massive marketing stunts.

Here are some examples of common forms of leverage used by businesses to help loyalty programs succeed:

  • Free Trial Services
  • Opt-In Newsletters (Email Address)
  • Point Systems
  • Referral Programs
  • Partner Programs
  • Loyalty Discounts

The Last Words

You cannot afford to develop a loyalty program that has no value in the eyes of your customers and does not make their shopping experience enjoyable or rewarding. No loyalty program will attract customers to your business overnight. However, you can retain a large number of your customers with the right efforts and incentives in a loyalty program.

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Best Electric Bikes and Scooters for Rental Business or Campus Facility

The electric scooter revolution has caught on super-fast taking many cities across the globe by storm. eScooters, a renovated version of old-school scooters now turned into electric vehicles are an environmentally friendly solution to current on-demand commute problems. They work on engines, like cars, enabling short traveling distances without hassle. The result is that these groundbreaking electric machines can now provide faster transport for less — cheaper than Uber and faster than Metro.

Since they are durable, fast, easy to operate and maintain, and are more convenient to park compared to four-wheelers, the eScooters trend has and continues to spike interest as a promising growth area. Several companies and universities are increasingly setting up shop to provide eScooter services realizing a would-be profitable business model and a ready customer base that is university students or residents in need of faster and cheap travel going about their business in school, town, and other surrounding areas.

Electric Scooters Trends and Statistics

In many countries including the U.S., Canada, Mexico, U.K., Germany, France, China, Japan, India, Brazil and Mexico and more, a growing number of eScooter users both locals and tourists can now be seen effortlessly passing lines of drivers stuck in the endless and unmoving traffic.

A recent report by McKinsey revealed that the E-Scooter industry will be worth― $200 billion to $300 billion in the United States, $100 billion to $150 billion in Europe, and $30 billion to $50 billion in China in 2030. The e-Scooter revenue model will also spike and is projected to rise by more than 20% amounting to approximately $5 billion.

And, with a necessity to move people away from high carbon prints, traffic and congestion issues brought about by car-centric transport systems in cities, more and more city planners are developing more bike/scooter lanes and adopting zero-emission plans. This is the force behind the booming electric scooter market and the numbers will only go higher and higher.

Companies that have taken advantage of the growing eScooter trend develop an appthat allows them to provide efficient eScooter services. Such an app enables them to be able to locate bike pick-up and drop points through fully integrated google maps.

List of Best Electric Bikes for Rental Business or Campus Facility 2020:

It’s clear that e scooters will increasingly become more common and the e-scooter business model will continue to grab the attention of manufacturers, investors, entrepreneurs. All this should go ahead with a quest to know what are some of the best electric bikes in the market especially for anyone who would want to get started in the electric bikes/scooters rental business.

We have done a comprehensive list of the best electric bikes! Each bike has been reviewed in depth and includes a full list of specs and a photo.

Billy eBike

mobile-best-electric-bikes-scooters https://www.kickstarter.com/projects/enkicycles/billy-were-redefining-joyrides

To start us off is the Billy eBike, a powerful go-anywhere urban electric bike that’s specially designed to offer an exciting ride like no other whether you want to ride to the grocery store, cafe, work or school. The Billy eBike comes in 4 color options – Billy Blue, Polished aluminium, Artic white, and Stealth black.

Price: $2490

Available countries

Available in the USA, Europe, Asia, South Africa and Australia.This item ships from the USA. Buyers are therefore responsible for any taxes and/or customs duties incurred once it arrives in your country.

Features

  • Control – Ride with confidence with our ultra-wide BMX bars and a hyper-responsive twist throttle.
  • Stealth- Ride like a ninja with our Gates carbon drive that’s as smooth as butter and maintenance-free.
  • Drive – Ride further with our high torque fat bike motor, giving a better climbing performance.
  • Accelerate – Ride quicker with our 20-inch lightweight cutout rims for improved acceleration.
  • Customize – Ride your own way with 5 levels of power control. Each level determines power and speed.
  • Flickable – Ride harder with our BMX /MotoX inspired geometry and lightweight aluminum package

Specifications

  • Maximum speed: 20 mph (32 km/h)
  • Range per charge: 41 miles (66 km)
  • Maximum Power: 500W
  • Motor type: Fat Bike Motor: Bafang RM G060.500.DC
  • Load capacity: 300lbs (136kg)
  • Battery type: 13.6Ah Samsung lithium-ion,
  • Battery capacity: On/off-bike charging available
  • Weight: w/o batt. 48.5lbs (22kg), w/ batt. 54lbs (24.5kg)
  • Front Suspension: Fully adjustable air shock, preload/compression damping /lockout
  • Rear Suspension: spring, preload adjustment
  • Built-in GPS

Why Should You Buy This?

  • Riding fun and excitement
  • Better climbing ability and faster acceleration.
  • Ride with confidence
  • Billy folds for convenient storage and transportation.
  • Shorty levers connect to disc brakes ensuring you stop on a dime
  • belt drives are maintenance-free and clean (no oil or lubrication needed)

**Who Should Ride Billy? **

Both new and experienced riders

**Where to Buy? **Local distributors or ships from the USA.

Genze 200 series e-Bike

genze-best-electric-bikes-scooters https://www.genze.com/fleet/

Featuring a sleek and lightweight aluminum frame design, the 200-Series ebike takes your riding experience to greater heights. Available in both black and white this ebike comes with a connected app, which allows you to plan activities, map distances and routes while also allowing connections with fellow riders.

Price: $2099.00

Available countries

The Genze 200 series e-Bike is available at GenZe retail locations across the U.S or online via GenZe.com website. Customers from outside the US can ship the product while incurring the relevant charges.

Features

  • 2 Frame Options
  • 2 Sizes
  • Integrated/Removable Battery
  • Throttle and Pedal Assist Ride Modes
  • Integrated LCD Display
  • Connected App
  • 24 month warranty
  • GPS navigation
  • Bluetooth connectivity

Specifications

  • Maximum speed: 20 mph with throttle
  • Range per charge: 15-18 miles w/ throttle and 30-50 miles w/ pedal assist
  • Charging time: 3.5 hours
  • Motor type: Brushless Rear Hub Motor
  • Gears: Microshift Thumb Shifter
  • Battery type: Removable Samsung 36V, 9.6AH Li-Ion battery pack
  • Battery capacity: 36V and 350 Wh
  • Weight: 46 pounds
  • Derailleur: 8-speed Shimano
  • Brakes: Dual classic
  • Wheels: 26 x 20 inches
  • Frame: 16, and 18 inches
  • Operating Mode: Analog mode 5 levels of Pedal Assist Thrott­le Mode

Norco from eBikestore

norco-best-electric-bikes-scooters https://ebikestore.com/shop/norco-vlt-s2/

The Norco VLT S2 is a front suspension e-Bike with solid components alongside the reliable Bosch Performance Line Power systems that offer precise pedal assistance during any riding situation.

Price: $2,699.00

Available countries

This item is available via the various Norco bikes international distributors.

Features

  • VLT aluminum frame- for stiffness and wheel security.
  • Bosch e-bike system – for their reliability and performance.
  • E-bike components – for added durability.
  • Hydraulic disc brakes – offer riders more stopping power for safety and control at higher speeds.
  • Practical design features – to add convenience and versatility.

Specifications

  • Maximum speed: KMC X9 9spd
  • Motor type: Bosch Active Line
  • Gears: Shimano Altus RD-M2000, SGS, 9 Speed
  • Battery type: Power Pack 400
  • Battery capacity: 396Wh
  • Suspension: SR Suntour suspension fork
  • Frame: Norco VLT, Aluminum, 12x142mm TA Dropouts

Bodo EV

bodo-best-electric-bikes-scootershttp://www.bodoevs.com/bodoev/products_show.asp?product_id=13

Manufactured by Bodo Vehicle Group Limited, the Bodo EV is specially designed for strong power and extraordinary long service to facilitate super amazing rides. The Bodo Vehicle Company is a striking top in electric vehicles brand field in China and across the globe. Their Bodo EV will no doubt provide your riders with high-level riding satisfaction owing to its high-quality design, strength, breaking stability and speed.

Price: $799

Available countries

This item ships from China with buyers bearing the shipping costs and other variables prior to delivery.

Features

  • Reliable
  • Environment friendly
  • Comfortable riding
  • Fashionable
  • Economical
  • Durable – long service life
  • Braking stability
  • LED lighting technology

Specifications

  • Maximum speed: 45km/h
  • Range per charge: 50km per person
  • Charging time: 8 hours
  • Maximum Power: 3000W
  • Motor type: Brushless DC Motor
  • Load capacity: 100kg
  • Battery type: Lead-acid battery
  • Battery capacity: 60V 20AH
  • Weight: w/o battery 47kg

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How to start an electric scooter facility/fleet in a university campus/IT park

Are you leading an organization that has a large campus, e.g., a large university? You are probably thinking of introducing an electric scooter/bicycle fleet on the campus, and why wouldn’t you?

Introducing micro-mobility in your campus with the help of such a fleet would help the people on the campus significantly. People would save money since they don’t need to use a car for a short distance. Your campus will see a drastic reduction in congestion, moreover, its carbon footprint will reduce.

Micro-mobility is relatively new though and you would need help. You would need to select an appropriate fleet of vehicles. The people on your campus would need to find electric scooters or electric bikes for commuting, and you need to provide a solution for this.

To be more specific, you need a short-term electric bike rental app. With such an app, you will be able to easily offer micro-mobility to the people on the campus. We at Devathon have built Autorent exactly for this.

What does Autorent do and how can it help you? How does it enable you to introduce micro-mobility on your campus? We explain these in this article, however, we will touch upon a few basics first.

Micro-mobility: What it is

micro-mobility

You are probably thinking about micro-mobility relatively recently, aren’t you? A few relevant insights about it could help you to better appreciate its importance.

Micro-mobility is a new trend in transportation, and it uses vehicles that are considerably smaller than cars. Electric scooters (e-scooters) and electric bikes (e-bikes) are the most popular forms of micro-mobility, however, there are also e-unicycles and e-skateboards.

You might have already seen e-scooters, which are kick scooters that come with a motor. Thanks to its motor, an e-scooter can achieve a speed of up to 20 km/h. On the other hand, e-bikes are popular in China and Japan, and they come with a motor, and you can reach a speed of 40 km/h.

You obviously can’t use these vehicles for very long commutes, however, what if you need to travel a short distance? Even if you have a reasonable public transport facility in the city, it might not cover the route you need to take. Take the example of a large university campus. Such a campus is often at a considerable distance from the central business district of the city where it’s located. While public transport facilities may serve the central business district, they wouldn’t serve this large campus. Currently, many people drive their cars even for short distances.

As you know, that brings its own set of challenges. Vehicular traffic adds significantly to pollution, moreover, finding a parking spot can be hard in crowded urban districts.

Well, you can reduce your carbon footprint if you use an electric car. However, electric cars are still new, and many countries are still building the necessary infrastructure for them. Your large campus might not have the necessary infrastructure for them either. Presently, electric cars don’t represent a viable option in most geographies.

As a result, you need to buy and maintain a car even if your commute is short. In addition to dealing with parking problems, you need to spend significantly on your car.

All of these factors have combined to make people sit up and think seriously about cars. Many people are now seriously considering whether a car is really the best option even if they have to commute only a short distance.

This is where micro-mobility enters the picture. When you commute a short distance regularly, e-scooters or e-bikes are viable options. You limit your carbon footprints and you cut costs!

Businesses have seen this shift in thinking, and e-scooter companies like Lime and Bird have entered this field in a big way. They let you rent e-scooters by the minute. On the other hand, start-ups like Jump and Lyft have entered the e-bike market.

Think of your campus now! The people there might need to travel short distances within the campus, and e-scooters can really help them.

How micro-mobility can benefit you

benefits-micromobility

What advantages can you get from micro-mobility? Let’s take a deeper look into this question.

Micro-mobility can offer several advantages to the people on your campus, e.g.:

  • Affordability: Shared e-scooters are cheaper than other mass transportation options. Remember that the people on your campus will use them on a shared basis, and they will pay for their short commutes only. Well, depending on your operating model, you might even let them use shared e-scooters or e-bikes for free!
  • Convenience: Users don’t need to worry about finding parking spots for shared e-scooters since these are small. They can easily travel from point A to point B on your campus with the help of these e-scooters.
  • Environmentally sustainable: Shared e-scooters reduce the carbon footprint, moreover, they decongest the roads. Statistics from the pilot programs in cities like Portland and Denver showimpressive gains around this key aspect.
  • Safety: This one’s obvious, isn’t it? When people on your campus use small e-scooters or e-bikes instead of cars, the problem of overspeeding will disappear. you will see fewer accidents.

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8 Invoicing Lessons Every Small Business Owner Should Follow!

In running a business, you discover the most lessons you learn are when you hit and try. It is tough, but these self-learned lessons help you grow better.

Apart, from what you learn from your own learning, there are some lessons that you should learn from others mistakes too. Invoicing is one of the core needs of any business and one of the most mistaken sides too.The most errors, that any business faces, are in the sector of invoicing in its business.

Keep on Reading The Top Lessons And Stick Them With You Next Time You Send Invoices:

Always keep records to back up your invoice.
One of the key benefits of using invoicing software for small business is that it helps you save all your records in the cloud. Thereby, eradicating all the possible choices of theft, loss, and disruption. You can access and use these records in future as and when you like without having to search piles of papers. The complexity of manual processes is reduced to zero…

Read full article at Invoicera.com

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Integrated Business Processes with ERP Systems covers the key processes supported by modern ERP systems. To know more visit us!

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