Keeping it loyal
New customers are always great for business, but acquiring them can be an expensive and time consuming process. Moreover, data suggests that around 60% of the shoppers you sell to won’t become a repeat customer, so it can often be a case of money (and time) not so well spent.
Of course, you should never turn down the opportunity to attract more new customers, but having loyal customers who buy from you repeatedly makes life so much easier. This is simply because they reduce your acquisition costs, help grow profits, strengthen your brand and enable you to build a customer base.
As an independent retailer, you’ll know competition for customers is fierce, so feeling the need to discount can be hard to resist. The trouble with discounting, however, is there’s no guarantee customers will come back – or even buy from your website – in the future.
While discounting can be appropriate in certain situations, the reality is that it eats into your profits. What you really need are ideal customers who repeat purchase from you.
Cloud POS Loyalty is a scheme designed to help you find more ideal customers by giving them something of value, so they have a reason to be loyal to you. It works by offering customers a better deal on every purchase they make after they first buy from you. Customers collect points on each purchase, whether that’s in-store or online, and the points equate to money off their next purchase. That way, they have a reason to return to your store.
You can set the rate at which customers earn points and how long they remain valid. You can also send automated monthly statements to let customers know how many points they’ve earned.
Developed specifically for independent retailers, Cloud POS Loyalty reduces the prospect of ‘one time only’ customers so you make more repeat sales and, therefore, more profits. It’s easy to implement, protects margins, boosts revenues and helps you cut down on end-of-season discounting.
With Cloud POS Loyalty you’ll spend less time on customer acquisition and more time on building your business. Get in touch to find out more.