They say, what’s in a name? Well, when it comes to loyalty programs, the name determines what your customer thinks about your company and your loyalty program even before they sign up for it. The name of your loyalty program sets the tone for prospective shoppers and members. It shouldn’t just motivate them to join the program but also have a high recall value. Some brands and retailers make the mistake of being too hasty with the name and don’t give it enough thought. The name of your loyalty program needs to be memorable, meaningful and should resonate with your overall brand message. An appropriate name for a customer loyalty program has the potential, when done right, to make a unique and long lasting connection between customers and your brand.
Competition in the e-commerce market is tough and to succeed in a booming industry, it’s important that you have a differentiating factor. An effective way to stand out from the crowd is with a rewarding loyalty program. Reports found that almost 79% of customers are very motivated by the feeling of accumulating points that can be redeemed for valuable rewards. Did you know the average American household belongs to 29 different loyalty rewards programs? These programs benefit customers and businesses alike. Loyalty programs stimulate brand advocacy, retain customers and accelerate revenue growth. Having customers who make repeat purchases is a critical requirement for success. Hence it’s extremely important to name your loyalty program correctly. .
While naming your loyalty program, make sure:
The name of your loyalty program should make your customers feel interested and excited to be a part of something special. It should represent high perceived value and excitement. Some really popular loyalty program names include beauty brand Sephora’s Beauty INSIDER program and vegan supplement brand Vega’s Rad(ish) Rewards. These unique names hint at benefits but don’t give them away, making customers curious to know more. Similarly, Victoria’s Secret uses a tiered loyalty program where members have an “Angel Card”. The Angel Card has three different levels. There’s the standard Angel, Angel VIP and Angel Forever.
Here are some tips to help you name your customer loyalty program: