Why is Nano Buddy a perfect White Label Product for your Loyalty Program?

The concept of 'loyalty' has been around for centuries. From soldier loyalty towards Emperors and Generals, to you being loyal to your barber or dentist. But why is it that you choose not to go to another dentist and yet you decide to buy groceries almost anywhere?

You could answer by saying: "The service is very nice" or "I trust my dentist" or even "My dentist knows me and my teeth" . All of this is true, but other dentists are capable of doing the same, aren't they? As well as other grocery shops can offer you the same products. So, what's the real reason behind loyalty to your dentist?
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Your dentist is a human being and you perceive him as one, you feel safe, you feel acknowledged, you feel that he or she cares about you. While the grocery shop is… well, let's just say your local grocery shop. Now, by this logic, the solution to customer loyalty would be acknowledgment, care and safety, right? Actually, it goes way deeper than that. That's why there is something called 'Customer Loyalty Program' which utilizes gamification and emotions in its core.

Does my business need a loyalty program?

It certainly doesn't, but if it had a well designed one, it could bring much more than happy customers. According to Snipp, brands that incorporate gamification into their customer engagement strategies see a 47% rise in engagement, a 22% rise in brand loyalty, and a 15% rise in brand awareness. The same study also found that more than two-thirds of the world’s top 2,000 companies have already embraced gamification.
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Starbucks is one company that has successfully implemented this process. Using level-ups based activities, challenges for customers to complete and reward points for purchases, Starbucks has seen a significant increase in customer retention. Their customer retention rate is 44%, which is significantly higher than the industry average of 25%. The gamified loyalty program has also improved customer engagement resulting in people making repeat purchases and trying new products.
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We certainly won't explain how to create a perfect gamification strategy, because there is no 'perfect' here. It all depends on your business goals, customer needs, their feedback and so on. Instead, we can show you how using Nano Buddy as a reward in your gamification process can help customers make an easier decision of coming back again.
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"The rewards associated with loyalty programs provide means to establish reciprocity between the customer and the company. That is, rewards may generate a feeling of obligatory response from the customer in the form of more business which in turn may lead to more rewards offered from the company and so on." 

- Research: Building and Sustaining Profitable Customer Loyalty for the 21st Century

How to make a customer return through gamification?

First of all, we need to make clear that we are talking about a White Label product. "Why is that important?" you may ask.
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To answer this, we'll need to explain the Nano Buddy product in question: Main Nano Buddy product is a sticker that can be placed anywhere. It effectively neutralizes the aggressive electromagnetic radiation and offers protection against electromagnetic fields by utilizing nano technology. Which devices emit electromagnetic radiation? Mobile phones, laptops, Wi-fi routers, TVs etc. Note that these devices are something that we use everyday.
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Now, imagine your business' logo on someone's mobile phone or laptop as a sticker, which also happens to protect them from EMF and not just exist there for aesthetics. This makes a list of benefits for you and your customer:
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1. Emotional Relationship: Your business shows that they care about customers by providing them with a health protection device/sticker. This is where White Label comes into play: Customers will form a sense of your Brand protecting them from invisible and harmful electromagnetic fields. They will give credit to your brand, not the sticker, thus forming an emotional relationship.
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2. Never Forget Your Logo: People are using mobile phones everyday, meaning that your branding is always visible to your customer, reminding them of your business.
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3. Brand Awareness: As well as your customer can see the sticker so often, people from their surroundings can see it too. This elevates your brand awareness, sparking up conversations between people and getting more and more individuals interested in your brand and business.
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4. Loyalty Status: Protection stickers are seen as a form of loyalty status since they are only obtainable through the gamification process. Customers will feel special and experience Affective Commitment.
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Although the main point of a customer loyalty program is to convince customers to spend more money on a brand, the best customer loyalty programs drive real value to their customers. By using Nano Buddy as a reward in your gamification process, your business is connecting with the psychology of your customers, providing value. That results in an increased customer activity, which leads to more sales.

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"In this context (Image above), our definition of a successful loyalty program that can sustain over time is the one that can meet both customer and corporate goals concurrently." 
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- Research: Building and Sustaining Profitable Customer Loyalty for the 21st Century

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"Results show that users in the gamified condition were significantly more likely to post trade proposals, carry out transactions, comment on proposals and generally use the service in a more active way."
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‍- Research: Do badges increase user activity? A field experiment on effects of gamification 

Does it really work?

Sometimes numbers provide more trust than words, so let's talk about research, facts and statistics regarding gamification in loyalty programs.

Caring about Customer Health is forming an Emotional Relationship

Remember when we talked about forming an emotional relationship with your customers by rewarding them with a product that protects their health? Motista’s Study Results show that customers with an emotional relationship with a brand have a 306% higher lifetime value. Also, customers with an emotional relationship with a brand are 71% more likely to recommend the brand to others.

Make it Exclusive, Make them Loyal

Offering a product or a benefit that is obtainable only through your loyalty program can sometimes be enough for a customer to enroll in one. How do we know that? Because this research states that 79% of customers said being able to unlock exclusive benefits made them loyal.

How much does loyalty cost?

• Would you agree with the fact that it’s 5-25x more expensive to acquire a new customer than to keep an existing one? Harvard Business Review agrees.
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• 65% of a company’s revenue comes from the repeat business of existing customers.
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• A 5% increase in customer retention correlates with a 25% increase in profit.
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• The top performing loyalty programs boost revenue from customers who use them by 15-25% annually.
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• Over 83% of consumers say belonging to a loyalty program influences their decision to buy again from a brand.

Proof?

Look around you. World's biggest retail companies have some form of loyalty programs. Amazon Prime members spend more than double that of non-member Amazon customers. Walmart+ members spend an average of $79 per online visit, compared to $62 for non-members. Walmart+ members also shopped an average of 11 more times per year (29 visits) compared with non-members (18).

We share the same goal

Next time you pay a visit to your dentist, remember that you are his redeeming customer. Try to take a look at things from that perspective, thinking about what made you loyal since the first visit. Our team at Nano Buddy has thought all of this through. Backed up by real data and facts, we are ready to be responsible for your smile when reading the profit and revenue report at the end of the year.
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If you want to know more, feel free to contact us here.