Keeping an edge on the competition is incredibly important in running a successful business. What keeps your customers coming back to you rather than a similar restaurant or shop? Do you offer everything that they do? Is your business competitively priced?
Sometimes you feel like you have everything but something just isn’t quite right. If you need a new way to keep shoppers coming back, why not start rewarding them by implementing a customer loyalty program?
Do They Work?
Loyalty clubs and programs increase the frequency of shopper visits to businesses offering rewards to four times that of other businesses not offering programs as well increasing the overall buyer spend. Research shows that loyalty programs are an extremely effective way to form relationships with your customers and increase their sense of value associated with buying from your business over others.
How Does It Work?
Simply put, the more your customer frequents your business and the more they spend, the better the rewards they are offered. Whether you offer prizes, in-store credit or a reward through an associated business is completely at your discretion. You want to incentivise them to choose your business over another and then reward them.
Loyalty programs are an intricate marketing tool that can give your business the upper hand and keep your brand name at the front of customer’s minds. You can issue reward cards which your customer hands over when they visit or update their information each time a purchase is made, shoppers are happier about you storing their information in a database and buying from you starts to seem more worthwhile.
Why Should I Implement A Loyalty Program?
In a world of business where marketing and advertising has become so advanced, client retention has become incredibly important to ensuring continued success. You can encourage shoppers to spend exclusively with you and form strong relationships with those that do.
Programs like Fly Buys in New Zealand and Australia prove that the method is successful with over 2.7 million individual cardholders; plenty who choose participating retailers and service providers over those that don’t reward with Fly Buys on their purchases.
Where Do I Get Started?
The scale of reward program should reflect the scale of your business; talk to a marketing or loyalty program development specialist to create an effective loyalty program that ensures your company the best results.
A loyalty program is the perfect addition to any marketing strategy and can help guarantee that your company enjoys return business from happier clients.