When launching a small to medium-sized business, itâ€™s imperative to focus on the right kind of marketing strategies. A loyalty card program is an affordable, effective, and proven strategy to get customers interested. Itâ€™s easily scalable and it can be sustained by businesses with limited budget and manpower. Following are 5 reasons why a loyalty card program is essential for your new business.
Itâ€™s a well proven method: When you have a limited marketing budget, itâ€™s best to rely on a marketing method thatâ€™s proven to be effective. In other words, donâ€™t try to reinvent the wheel. Loyalty card programs are a time tested marketing strategy that has worked well for both large and small businesses. If done correctly, it will not only help your retain loyal customers but also encourage new customers to walk in through those doors.
Itâ€™s Inexpensive: When you start a new business, you would really have to be careful about expenses that do not translate to sales. Most small start-ups do not have the splurging marketing budget of a multinational firm. This is where a loyalty card program comes to the rescue. They are not only affordable but they usually have an impressive cost to sale ratio. If you own a retail store, all you have to do is order custom loyalty cards from a reputed printing firm such as Plascards. Apart from the printing cost, there is very little you need to spend to launch the program. In fact, the cost of printing an entire batch of plastic loyalty cards usually gets easily covered by the sales generated by returning customers.
Boosts Word-of-mouth Marketing: When loyalty card benefits are complemented with great service and products, your loyal customers become your marketing guys. A premium-looking loyalty card along with the exclusive offers fuel their enthusiasm to tell others about â€śthis great new dealâ€ť. This is because people love and value exclusivity and the loyalty card program gives them something to brag about. This creates a chain reaction of people talking about your business. Known as word-of-mouth marketing, this is the best way to engage local customers and increase store footfall.
Helps You Track Your Customer Base: Once you have a database of loyal customers you can easily study their shopping patterns to fine tune your marketing strategy. The customer database of your loyal customers would also allow you to optimize your inventory so that your store always has the right stock at the right time of the year.
You Attract The Right Kind of Customers: A loyalty card program manages to attract people who are genuinely interested in your product or service. This is because the discount or reward is dependent on how much money the customer spends at your store. A person who is just looking for a one-time freebie or deal would never be interested in a loyalty card. Now, because loyalty card program is only attractive to people who plan to be regular buyers, sale from revisiting customers go up exponentially after a successful campaign.