Customer loyalty has evolved onto digital platforms and allows businesses in all sectors to engage with their customers in multiple, innovative ways. The loyalty programs have taken companies by storm as they encourage (and incentivize) specific behaviour from customers.
A robust education loyalty program motivates students throughout their journey while fulfilling the institution’s ultimate goal.
According toNielsen study, 84% of customers engage with a brand that has a loyalty program.
The loyalty programs are structured market strategies designed by merchants to form a good customer base by boosting engagement. The reward program offers value to loyal customers while bolstering the relationship, accelerating the loyalty life cycle, and keeping your loyal customers away from your competitors.
Research by Loyaltylion says that customers who participate in your loyalty program are 47% more likely to return to you.
You can see why many brands are now investing more money into loyalty and reward programs.
An education loyalty program helps in attracting the best talent and engages them through exciting rewards. Launching a loyalty program can be an added USP(unique selling point) for your institution, which will enhance your reputation and increase revenue. The program can provide:
Several parameters need to be considered before creating an education loyalty program. Loyalty programs that work for other businesses may not be as impactful in education; they also only work when you are clear on how to cater to your audience and meet their expectations.
Before jumping into an education loyalty program, here a few questions, you must consider:
The main purpose of a loyalty program is to have your customers keep coming back. If that isn’t happening, your loyalty program doesn’t make sense.
Your loyalty programs should be in sync with your marketing strategy. Make a foolproof strategy by doing the research before proceeding.
Your brand will likely take some flak if you make any changes in your loyalty program midway. Design a program that you can continue for a longer time.
We have listed the five best education loyalty programs to make your task easy and help you get better ideas:
This is one of the most engaging loyalty programs owing to its low operational cost and user-friendly approach. Its redeemable points offer a higher chance of repeat visits, and these points can be used directly or transferred into coupons. This loyalty program also offers free membership.
Rewards points are offered to students who pass tests or do well on assignments. The rewards can be prepaid college tuitions, sports accessories, gift cards, financial products, and movie tickets. These rewards are given to students, teachers, and parents, based on their roles and interests.
Students get attractive rewards at a regular interval of time, which encourages them to put in more effort and give maximum participation in the class. Students may show more interest in learning, in the case of a reward-based program.
Having a good relationship with students is essential to running your school successfully. A value-based education loyalty program strengthens the relationships with your students, motivating them to choose your institution over competitors.
Engaging and retaining students is one of the biggest challenges for any educational institute. Loyalty programs are becoming valuable contributors to improving businesses’ overall performance.
The experts at Annex Cloud help educational institutes overcome all these challenges through their impeccable education loyalty programs. Our programs are designed, keeping your business needs in mind while improving student engagement and retention. Schools and universities interested in the customer loyalty program can contact our professionals today.