Increase Customer Loyalty, Increase Customer Value
Now your clients can have your business' Loyalty Card in their wallets! Every time your customer spends money with your business, you can award them points on their smart Loyalty Card. Here is how it is done:
Your customer can receive loyalty points based on the value of your products and services they purchase.
For example, your customer used $100.00 worth of your products and services. If you decide that each spent dollar equals 1 loyalty point, your customer would have earned 100 points on their account.
You can change the value of each spent dollar to any amount you please.
How do you decide what value to give to each earned Loyalty point?
As a rule of thumb, you can decide the value of each point by the discount % you would be willing to give your customers for repeat business. Think of this as an incentive to keep your customers coming back to you.
For example, you may determine that you would be comfortable with a 5% discount for all repeat customers.
When your customer buys $100.00 worth of products or services with your business, their loyalty points can now have a monetary value equal to 5% of their purchase. In this case, $5.00.
This percentage can be easily adjusted on the user-friendly software provided FREE with your Referral and Rewards Program.
This means that your customer will be leaving your place of business with additional value that is stored in their wallet and most importantly, in the back of their mind.
The best part is this campaign can be exercised on your current Website or an E-Commerce site alike.
Contact our qualified business consultants to ensure your website is compatible with the Referral and Rewards Program.
Simply put, your New Customers can now become your Repeat Customers with the same smart card!
Let’s say your new customer comes over to your place of business or your website to redeem their referral reward. They pay for your products and services minus the reward they got with a referral code.
At the same time, the loyal customer who used their phone number as a referral code also gets rewards to spend on goods and services! Both, the referrer and referee, are happy with bonuses and will most likely choose your business or website among others.
This campaign is a particularly useful tool for Groupon Retention purposes as emphasized in the next Proven Method of Use.
Provide your Groupon customer with Loyalty Points that can be converted to the same cash-back value the customer would get through purchasing with Groupon.
The best part is that you can control the rule responsible for the number of points for every dollar spent and the Cash Back percentage that you are comfortable with.
According to market research, customers collecting loyalty points that can be easily converted to cash are 87% more likely to return to the place of business where they can redeem the cash value or collect additional points.
Your referral number can do that too!
You can reward your customers for buying from your business by giving them virtual stamps. The magnetic pull this creates on your customer is the reason why some of the largest corporations are now using this method.
Our business owners confirm the success of this very method.
Select the product(s) and service(s) that you want to promote.
Decide what special you want to create for these product(s) and service(s).
You may refer to the examples listed above. As a rule of thumb, the product or service value should be the incentive you are willing to give to generate a repeat customer.
You may contact our professional business consultants for additional pointers.
The idea is simple, your referee customers can now become your loyal customers with the added Referral and Rewards value already programmed in their account.
Let’s say your new customer comes over to your place of business or your website to redeem their bonuses. They pay for your products and services minus the points they got from the referral code.
Similar to the Referrals to Loyalty Conversion - Method, the smart card can now be a Rewards Program.
Select the Reward
The reward can be a product, service, or an added value that your business has to offer.
Understand the Incentive Value Per Customer Visit
Our business owners found a smart way to determine how many times their customer needs to buy the product or service before they qualify for a FREE reward.
For example, you determine that your client qualifies for a 10% incentive each time they buy the product or service. This means that they will qualify for a FREE service on their 10th visit.
Remember, you can always adjust the incentives and the product pricing according to your needs and have it be easily reflected in your user-friendly software.
Similar to the Groupon Customers - Loyalty Retention this method is particularly effective for Groupon Clients retention.
The only difference is that your Groupon Customer can now receive a Virtual Rewards stamp for the specific product or service with every visit.
No business is perfect! As a result of minor mistakes, miscommunications, and other series of unfortunate events, your most important asset, being your customer, may suffer. Examples of such minor mistakes are endless: a hair in the meal, a double booking, an order mix-up, employee misconduct, etc.
When a boo-boo happens, the responsibility now falls on the management team to defuse the situation. The good thing is that the management staff is generally well trained for this kind of job and can handle over 80% of the conflicts to avoid further escalation. The sad thing is that according to the statistics, less than 25% of customers will come back for repeat business. This sucks!
So how can you improve on these awful odds? Based on market research, you can change this statistic by providing more value than the customer had originally paid for. Imagine having a Customer Satisfaction Card that can be loaded with any dollar amount. This card can be given to the 'mistreated' customer in order to incentivize them to come back to your place of business again. This method gives your business a real second chance at making a first impression!
The results are astonishing! In the hospitality industry, the average return rate for the customers who receive a Customer Satisfaction Card average 57%. This means that you would retain over 200% of the customers who you would otherwise lose forever. Now that is smart business!
The best part is with your easy-to-use software, you may load the card with any amount depending on your customer's worth to your business. This gives you the control of properly incentivizing various types of customers to come back for more.