May 27, 2019
4 Reasons you need a Customer Loyalty Program
Do you know that customer loyalty programs are a proven method of growing your business and increasing your profitability? Customers who are already happy to shop in your store are more likely to continue buying and are keen to purchase new products, when your store offers a loyalty program.
Here are some of the key benefits to having a loyalty program:
- It can help your business track customers’ buying patterns and offer personalized deals to customers based on their purchase histories and buying trends.
- It allows your store to provide appropriate rewards such as cashback, bonus points and gift-with purchase.
- You can appeal to millennials who also are most likely to pay a premium if they are earning loyalty rewards.
- Most important…it can help increase sales and retain customers!
What do consumers look for in a customer loyalty program?
Customers want a loyalty program that is simple to use and relevant to industry trends. Simply put, the value of the program must be worth the customer’s loyalty. Provide value by keeping the program fresh and ensure that the customer experience is a good one – having a loyalty program will NOT make up for bad customer service.
How can I set up my customer loyalty program for success?
1. Track your data!
Use the data you collect to create a business plan, analyzing your demographics, traffic patterns and basket size. These key performing indicators (KPIs) are important when evaluating your loyalty program and what works and what doesn’t.
2. Use a reliable loyalty programs software solution
At POSitec Solutions, both FINESTRA and Finestra Health Centre POS software include a loyalty program. Our research demonstrates that loyalty programs are (and will continue to be) an integral part of the customer experience. With this in mind, our design team has developed a loyalty program that is easy to use and simple to integrate.
3. Map out the logistics
For stores that are part of a banner such as Pharmasave or PharmaChoice, the loyalty program is a card-based program. The customer is provided a scannable card which pulls up the customer file at the time of the transaction and adds the rewards points. For stores not part of a banner loyalty program, it is a customer-based program. The cashier will manually pull up the customer file at the till to ensure that rewards are added. Either way, your customer benefits with rewards and your store benefits with continued customer loyalty. Remember – your customer’s loyalty is your most valuable asset!
Want to learn more about the POSitec Advantage? Connect with one of our sales associates today.