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|Megan Rutherford has a diverse background in sales, marketing, and public relations. She has 15+ years of experience in helping small businesses grow their unique markets. Certified as an inbound marketer, Megan specializes in internet & email marketing, search engine optimization, social media, and more. Offline activities include direct mail marketing, public relations, and event planning.|
Customer Loyalty Programs
Customer loyalty programs are common among businesses, both large and small. Let’s face it rewards are all around us, from the grocery stores we shop at to the gas we purchase for our vehicle. So why not have a rewards program in place for the customers that frequent your small business? While all rewards programs have the same basic concept behind them, each tends to differ in what they offer. Small businesses can significantly benefit from having customer loyalty programs for a wide variety of reasons. Let’s examine some of the top ones.
Identifying and Understanding Loyal Customers Habits
Tracking customer visits and discovering habits can help not only increase sales but also lead to a better understanding of the customer. Smart segmentation and integration allow for a laser-focused approach when it comes to marketing messaging and not just a one-size-fits-all method.
Digital rewards programs aid in not only boosting loyalty but provide reasons for customers to return over and over again. Through rewarding customers with points or coupons in exchange for making a purchase, the customer feels like they are appreciated. Additionally, the customer is also typically more willing to come back for future purchases and also potentially recommend the business because of the value that they feel it provides. Punch cards are still alive and well and do offer a low-cost alternative to a digital reward solution. Yet they aren’t robust enough to collect emails or phone numbers and are just another item to add to a wallet that most people have tried to take digital.
Buy More to Save More
When customers gain rewards, they tend to buy more, and they also feel that they save more. The type of reward offered will vary from one business to the next. Some will offer a discount when a certain amount of purchases has been made through a spending benchmark while others will offer free products.
Customer Loyalty Plan Options
A wide array of customer loyalty plans exist on the market to choose between. Typical offerings include apps, text programs, email opt-ins, and more. Ensuring that the customer loyalty program fits into the point-of-sale structure for the business is the first step when researching options. Price, customer enrollment, ease of set up, hosting, customer notifications, point redemption, and reporting are all key elements to compare when shopping around for a solution. You’ll find that nearly every customer loyalty plan has its pros and cons; it just depends on what’s most important to the small business.
Collecting Customer Data
Collecting customer data is a huge advantage for implementing a customer loyalty program for your small business. Sharing special events, rewards offers, and sales are all ways to engage with the intended customer base.
A small business customer loyalty program is a great way to offer an incentive to customers. Customers repeatedly visit a business when they feel valued and appreciated, and when a customer loyalty program is coupled with outstanding customer service, it is a terrific way to guarantee more business through not only attracting but also retaining customers. Keeping customers coming back should be the top priority for any small business. What’s more; is having the edge over competitors by offering a digital rewards program. The concept is simple, with a customer loyalty program, the customer gets rewarded for how much they spend, and the business can reap the benefits.