Why Your Business, Restaurant or Retail Store Should Have a Customer Loyalty Program for Your Customers
The aim of a Loyalty Program is to generate recurring income from returning customers, whether it increases the number of sales or foot traffic through the doors. The direct benefit of developing and implementing a Customer Loyalty Program is that it generates a database of your end users and allows you to run various promotions directly with your target audience.
Any type of business should have a type of Customer Loyalty Program in place, whether you have a salon, coffee shop, restaurant, fashion boutique or simply selling items from home, to keep your customers coming back and generating recurring income.
Here are 4 ways to implement a Customer Loyalty Program in your business
When you capture customer information on your system, you can offer them coupons, reward them for purchases, and more. This is great because not only will you create more engaged customers who benefit from participation, but the funds that you generate from your loyal customers will cover the cost of your program investment.
Buy One Get One Free
The Buy-One-Get-One-Free option makes your customers immediately want to share the deal or invite friends and family for a night out for cocktails or just a family dinner. More feet means more exposure!
Bucket Vouchers mean that if a customer spends a specific amount of money on a visit to your business, they will get an amount off the bill to use on that same visit or save it for the next time. This will increase the number of sales and your customer spending will get higher.
Cash Back can work alongside the Bucket Vouchers or a Loyalty Function all on its own. Provide the customer with an option, do they want the Bucket Reward Amount in cash, have the amount taken from the bill, or save it for next time? Customers like to have control over the choices they make, but don’t give them too many options or they might just get overwhelmed. 😉
Vouchers can be used by the Customer that is visiting your business, or they can give it to a friend or family member as a gift. Once again, it puts them in control and we love to make others around us feel good, so by allowing this you will build a steady and loyal client base.
At the end of the day, we want to know how to better the value of service for our customers and keep them coming back, so consumer data gets recorded in the company’s database. You can use this data for profiling your best customers and adjusting your sales and specials to specific groups of consumers.
As loyalty program data gives you a complete view of customer behavior, buying habits, and preferences, you can use this information to better your inventory management, pricing, and promotional planning.
If you don’t have a loyalty program in place yet, why not give us a call for some expert advice or check out our POS software solutions which offer inventory management and loyalty programs, show you customer buying habits and behaviors and so much more!