The reward program strategy for small businesses is simple: encourage repeat visits by offering a gradually building reward or benefit program based on making repeat purchases at your local business.
This is a basic but powerful strategy for small business owners.
Manta’s and BIA/Kelsey’s joint report “Achieving Big Customer Loyalty in a Small Business World” revealed that 64 percent of early adopters who already have a customer loyalty program in place report that their program has been effective. That means that it makes more money than it costs to maintain the program. It’s important for business owners to keep in mind that customer loyalty isn’t just for big businesses – a well-designed program can help businesses large and small reach new heights of success.
Let’s look at some of the ways in which a loyalty program can transform your small business with increased customer loyalty.
A repeat customer buys more
A customer who is already acquainted with your store and services feels more comfortable purchasing more from you than a brand-new customer. Think of going to a supermarket that you’ve been to before. Before you walk in, you already know where the items are and what products they offer. You not only walk in as a confident shopper but are also more comfortable making bigger purchases.
Customer loyalty programs always make customers happy. And a happy customer means tons of free word-of-mouth advertising for your local business.
Having an ongoing customer loyalty reward system in place can truly up your chances of turning more customers into lifelong fans. That’s a group that can continually generate more word-of-mouth advertising.
The competitive edge
Customer loyalty is an area where every small business can get creative in how they keep their customers happy. This accounts for a big competitive advantage.
For example, a customer might love having coffee at a big chain shop across the street, but he still prefers to go to the small business that has a better loyalty program and offers him more rewards in the long-run.
Moreover, small businesses operate on a smaller platform and have more chances to revamp or rebuild their loyalty programs. This allows more room for creativity when it comes to making customers happy.
A customer loyalty program is not at all expensive to maintain
Loyalty programs are not a drain on the budget of small businesses.
Even a basic program can give you great returns. And, thanks to technological advancement, today’s business owner already has access to many easy mobile-based programs as well.
For example, Welcomemat’s is an easy-to-use customer loyalty program for small businesses who want to reward their customers and increase customer loyalty.
At Welcomemat we understand that a small business owner has to manage many aspects of his business every day, from administrative to staffing and inventory duties.
We take away the burden of finding new customers and give you the freedom to try our PunchPoints customer loyalty program to help build your loyal customer base.
Welcome new families and individuals to your neighborhood with Welcomemat and increase customer footfalls in your store.
Talk to your local Welcomemat representative to find out how you can grow your business.