A customer loyalty scheme that boosts sales by 20%
Although new customers are always a welcome addition to any business, getting people to shop with you over and over again is a more cost effective way to boost sales.
With the rapid increase in online shopping, customers aren’t as loyal as perhaps they once were. That’s why you need to go a step further; encourage them to come back to you rather than shop elsewhere.
This is where a customer loyalty scheme comes in to play. Cloud POS offers money off future purchases so shoppers always have an incentive to return to your store. The scheme avoids unnecessary discounting which cuts in to your margin with no guarantee the customer will come back for a second visit.
How it works
After making their first purchase with you, customer are awarded points. These points equate to money off their next purchase.
Every purchase thereafter, they collect points towards – and money off – the next item they buy from you. If they prefer, however, they can bank their points to put towards a bigger purchase. Either way, it’s a great way to say thank you to loyal customers and a clever way to grow sales.
You’re always in control. You can set the rate at which customers earn points, enabling you to maintain margins. You can also determine how long the points remain valid for.
Building relationships
Cloud POS has been specifically designed for retailers to forge relationships with customers. The scheme encourages a customer’s second transaction because it provides an incentive for them to come back. This second interaction is important because it forms the start of your relationship with them.
Stay in touch with customers through automated emails to let them know how many points they’ve earned after each purchase. You can also send monthly statements outlining customers’ points balance and email them with special offers you’re promoting. By maintaining contact with your customers’ you build relationships. Relationships build loyalty. Loyalty builds profits.
A ‘win-win’ for both retailer and customer
You can offer rewards on in-store and online purchases so your customers benefit every time they purchase from you.
For you, the financial benefit is clear. 20% of shoppers will buy from you again. Get in touch to benefit.
It’s been brilliant, so now everyone’s getting 5% of what they spend in shop on their account. That money equates to 2.5-3% [of margin] to us and it’s all back in our door, rather than over the road.
Dan Stringer – Owner, Ride Bikes
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