According to marketing experts, it's simpler to keep a classic customer rather than modify the one. For this reason trend, it is vital that you simply keep your clients pleased with the services you receive and merchandise to foster loyalty and repeat purchases. One way to make sure your patrons return for further is gift certificates and loyalty programs. Not only can they help improve your sales and profits, they could enable you to gain new clients also.
What exactly are gift and loyalty programs?
Gift and loyalty card programs are promotional products that can help you expand your small business. A pre-balance credit card is just like a debit card having a prepaid amount stored on it. This card allows the bearer to invest the amount within your store.
Loyalty cards, on the other hand, can take many forms, with electronic cards the same as credit or debit cards to be the most favored. To get a certain purchase amount or quantity, loyalty programs allow clients to amass points that they can may use for rewards or future purchases.
If you want to have the ultimate value to your investment, you can even create an all-in-one card which functions as a gift card and loyalty program coupon all simultaneously.
Advantages of gift and loyalty card programs
Marketing research shows that gift cards and loyalty programs are good for any organization, big or small.
Listed below are main reasons why it can increase your revenue and profits immediately:
· Research has shown that 10-15% of gift cards and loyalty programs usually do not redeem their discounts or prizes.
· You don't need to give monetary change for that unused amount.
· You are able to try to find sponsors who can subsidize your gift certificates and loyalty programs.
· Customers can keep on returning to your store for additional purchases so that you can claim the discounts or freebies as indicated.
· Prepaid credit cards can be used as an easy method of promotion and marketing to ask more customers and gain more sales.
One of the most important great things about these program is brand awareness. Using this, you don't need to pay a whole lot for print or media advertising. The credit card alone is an excellent method of making your company known through the entire neighborhood - and possibly the complete country!
Gift and loyalty programs can also help you save adequate funds on operational costs as you can integrate these reward features within your store's point of sale terminal.