Benefits of a Loyalty Program
Whether or not you have a loyalty program can have a large impact on how much business you get. For Instance, 61% of small businesses generate more than 51% of
their sales from repeat customers rather than new customers. Yet 66% of small businesses, do not have a loyalty program at all. Of the 34% that do have a loyalty
program, only 46% of those are electronic. Whether a loyalty program is electronic or not, it can also have an effect on how people perceive you. A study by 451
Research found that 45% of respondents would choose to shop at stores with mobile loyalty programs over stores that didn't offer them.
The Loyality loyalty programs are white labeled loyalty programs. This means that you brand it to your companies needs including providing the reward structure.
When creating rewards structure there are some good guidelines that you should follow. They include:
- Make the rewards obtainable.
- Offer unique rewards (preferably rewards they can't get anywhere else)
- Create a graduated rewards structure, if using the points system, with increasing difficulty as the reward value gets larger.
- Offer gift cards and vouchers as rewards
- Avoid unnecessary complexity
- Offer special limited time offers for points to generate buzz.
- Provide your customers with a catalog as to what they can get if they save enough points or stamps. This will provide them with motivation to participate.
- Be careful when making changes so that you don't deincentivize your customers.
Loyality has two options for loyalty programs. They are:
Points Account Loyalty Program
Loyality's points account service is designed to provide 10 points for each dollar spent.
This is pretty much standard when it comes to loyalty programs. The idea is that the customer is motivated
to keep visiting your store to collect enough points to get the item they want.
Stamp Card Loyalty Program
Loyality's stamp card loyalty program utilizes a virtual stamp card inside the Loyality app.
Merchants can stamp and redeam the cards by reading the QR Code and either applying a stamp
or redemption when the card is full. The stamp card stamps are customizable by uploading a
a stamp design to the system creating a highly branded experience. The number of stamps to
fill a card are adjustable through loyality's settings screen. The stamp card program is
perfect for small retail businesses that offer consistent items that are purchased
numerous times to the point a customer would want a free item. Like a sandwitch or coffee.