Loyalty Programs In Retail Marketing

The purpose of a reward program is to attract your customers to return or shop more

. Benefits that are very attractive to your customers to apply for this program special discounts and gifts for members. You can also assign point or token system where they will get points they can exchange for some items. There are wide range of varieties for this kind of program.

Give your customer a loyalty card as a sign of membership which you can use to identify them when they pay at the cashier. In an online shop, members are given ID numbers instead of physical card. They should put in their numbers in the form when they check out to gain benefits from their card.

There are several ways for customers to gain this card. They can make purchase for certain amount at once or in a period of time. You can also give the cards away when you first open the business to attract new customers. Some stores ask the customer to buy the loyalty cards.

Stamp system is another version of reward program that is open to everyone, not just to members. In this system, a customer will get a stamp for every purchase that meets the criteria. After they collect some stamps, they can exchange it for certain rewards. Variations of the rewards are items, shopping vouchers, of a chance to purchase something with reduced price.

There is no single reward program that will work for every shops or business. There are many variables to consider, the nature of your items, the characteristic of your customers among other things. You need to think the best strategy to utilize this program to your benefit, either you want to be loose with your program or save it for your top buyers.

If you cannot decide, you can combine several approaches in your marketing strategy. You can offer member cards that are for general customers but you also give special VIP cards for your top buyers. This strategy works very well if your retail business has many variations in products and prices.

It is important to remember that loyalty program is meant to give rewards to your customer and improve their satisfaction in shopping at your place. With that in mind, avoid upsetting your customers. Most customers are upset because they find too many conditions and terms when using their member card. It is best to use simple term and condition that is clear and easy to understand. Avoid hidden fees that will disappoint your customers. Remember that if you lose your customers, it is not as easy to gain them.

If you intend to make sure your customer is satisfied with your products and services for long term success, your customer loyalty program will be successful. However if your intention is merely to increase profit quickly, then maybe Customer loyalty program is not suitable for your retail marketing strategy.

by: Adriana Noton

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