Take your business to the next level with a customer loyalty or reward program. Incentivize your customers for their loyalty, while also collecting valuable data about them like spending habits, frequency of visits, and types of products purchased. Business owners like these programs because it helps them serve their customers better, and increases sales.
How it works
As customers visit your store (brick and mortar or online) they can be asked at checkout if they’d like to become a part of your rewards program. Usually a name, address, phone number, and email are the simplest way to sign up. A lot of businesses track by phone numbers. The phone number is used at checkout to store transaction information, and rewards are given based off purchases.
Customers receive rewards with a point system by category or products purchased, amount spent, day of the week, or any other factors. You can also surprise customers with random bonuses on certain products, or even give special pricing only to those in your loyalty program.
Examples That Drive Sales
Studies have shown that customized receipts bring in 20%-25% more business compared to non-customized receipts. Set your POS software to print out customized coupons on receipts based on purchases. For example, if the customer purchased a can of paint, give them a coupon for 20% off paint supplies during their next visit. Give an expiration date as well to increase urgency.
Take your program to the next level with a tiered approach. In this example, customers belong to the bronze (lowest level), silver (medium level) or gold (highest level). Each level has different benefits to the customer, which incentivize them to spend more in order to move to the higher level and receive more rewards. Then customers can redeem their points quickly and easily at the point-of-sale.
Radio-Frequency Identification (RFID) Technology
Take into account customer experience when implementing your loyalty program and add Bepoz’s RFID software. When RFID is embedded in the loyalty cards, the sensors can help retailers identify specific customers in order to match the right products and services to them. With RFID, retailers can uniquely recognize a customer. The loyalty card they carry automatically triggers interactive signage or kiosks to display targeted discounts or offers for that customer.
There are so many more examples of how a loyalty program could work. How could it work in your business? Give Bepoz a call today to help you set up your program.