Benefits of a Loyalty Card Program
How do you grow as a business? You need to generate a return on your investment (ROI) consistently.
20:03 30 June 2020
The only way to do this is by making sure your customers return again and again. Unfortunately, there is only a 27% chance of a customer returning to your business after buying from you for the first time.
The key to success is encouraging that elusive second purchase. But, it doesn’t have to be difficult. And if you can get your customers to return, there is only one way your business can go: up! We think the most effective way to get customers through your business’s door is with a loyalty card program.
There are financial and non-financial benefits to loyalty card systems. Let’s explore what a loyalty card program is and how it can help your business:
Why Choose a Loyalty Card Program?
Loyalty cards are simple. If a customer buys something from you, offer them a loyalty card; explain the benefits they can enjoy. This is an incentive. An incentive is an achievable and worthwhile reward. If it is, your business should see an increase in sales as well as more promotion of your brand.
Growing as a business is as much about keeping customers as attracting new ones. The evidence this is so important is because a loyal customer will spend 67% more than first-time buyers. A loyalty card program can help you to achieve this.
Why will a customer buy from you more than once? They need what you offer and you’ve provided a great product or service. Of course, there is still no guarantee a first-time customer will return. A loyalty card program makes people 75% more likely to return to make another purchase. While this is no guarantee, we think you’ll like those odds.
Benefits of a Loyalty Card Program
Attract New Customers
A loyalty card is not something that will only help you to create loyal customers. It will also attract new customers. When comparing two businesses, it makes sense someone will choose the one with an incentive to make a purchase. Even if the two companies are the exact same in every other way.
Build Personal Relationships
Show loyalty to your customers and they will show loyalty to you. How do you show loyalty? Show you value your customers. You can do this with personal communication. A loyalty card program allows anyone buying from you to give you important information.
This allows you to send personal and relevant offers and promotions to them. Helping both you and your customers. Your business is rewarded because you make a profit and your customer is rewarded because they get a product or service they need/want.
Promote Your Brand
A valuable customer is not only someone who is a dependable buyer. They are also brand advocates. This is someone who you’ve delighted with your service. Not only what they’ve purchased from you, but your communications with them, and any rewards you’ve offered them. A loyalty card program can help you do all of the above. The better buying experience you offer the more likely it is that someone will recommend you to family and friends.
Thank you for reading this blog on loyalty card programs. We hope you now know why they’re invaluable for businesses of all sizes. Loyalty cards are not only about providing rewards.
They allow you to collect valuable data from your customers so you can create a better purchasing experience for them. The better experience your customers have the more likely they are to buy again and recommend you to friends/family.