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How Does Having A Customer Loyalty Scheme Benefit Your Business?

June 1st, 2021 | Gift & Loyalty

As a retailer, you’re more than aware how long the hours can be.

It’s not just the stockkeeping and the finances – it’s the marketing too, and for many people, that can be an unnecessary stress.

One of the biggest benefits of having a customer loyalty scheme is that it aids your marketing in several different ways. It decreases the hours you spend on marketing each week and reduces any unnecessary spend on campaigns that aren’t likely to work.

88.2% of all consumers regularly use at least one loyalty card.

By investing in a customer loyalty system, from only 82p a day you can:

  • Reach people who are unable to visit your shop in person due to lockdowns and other restrictions
  • Encourage word of mouth recommendations and referrals
  • Give people a reason to visit your shop for the first time
  • Give customers a reason to return
  • Compete with your rivals
  • Collect business intelligence about your customers’ behaviours
  • Market to existing customers and keep them engaged

All this without the need for any additional hardware!

Why does your loyalty system benefit you?

Prior to the installation of a loyalty system, you were likely facing many obstacles. Struggling to collect customer data and being unable to see sales reports could render your marketing useless, and that’s why Reward-It’s loyalty system is the perfect investment for your business.

Most importantly, loyalty programmes are a large factor when it comes to consumer behaviour. Roughly 88.2% of all consumers regularly use at least one loyalty card, and members of loyalty schemes spend between 5% and 20% more than non-members do. Having a loyalty programme increases your overall revenue by 5-10%.

Retaining customers is crucial to successfully running your business. It’s less costly than marketing to gain new customers, and with a loyalty system, you’re encouraging people to return to both gain and redeem their points. This leads to repeat visits and increased frequency of purchases, whilst adding word-of-mouth marketing – many of your loyalty members will tell their family and friends about your loyalty programme and the rewards they’ve gained.

And with the increased level of reach a customer loyalty scheme provides, you also have a platform to promote the products that aren’t as popular as you might have hoped. Offering them at a discount for loyalty members can help to increase your stockholding capacity.

Being able to track your customers’ purchases is a huge benefit when it comes to marketing. Firstly, you’re giving people a reason to sign up, and when they sign up, you can collect their personal data. Having an email database is pivotal to advertising your products, and with a loyalty scheme, you have a direct line of contact without the hassle.

Reward-It’s loyalty system gives you the option to generate reports based on sales and behaviour, so you can see what’s going well and what isn’t. That leads to a decrease in money wasted on pointless marketing campaigns, and if you want to, you can re-evaluate your whole business plan and streamline it based on what your loyal, regular customers are reacting to.

We’re here to support you

Reward-It has been a leading supplier of price signs, gift, and loyalty solutions to retailers since 2012. We work with over 400 customers from a range of industries, from city schemes, to high street retailers, to hotels, and e-commerce stores just to name a few. Our team knows what customer loyalty means to you – and some of us even have experience of being retailers, so we’ve been in your shoes.

That’s why we want you to voice your concerns or propose any suggestions whenever you want. We’re happy to help, and look forward to creating a solution for you. Please feel free to contact us whenever.

You can get in touch by calling us on 020 8266 1600, by emailing us at [email protected], or via the form on our Contact Us page.

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