Reduce one-time only customers with loyalty
While the pursuit of new customers is undeniably vital to growing your business, cultivating a loyal customer base creates longevity. This is because the cost of acquiring new customers is always far higher than serving people who’ve bought from you in the past and who continue to buy from you. Ideally, what you want is as few one-time only customers as possible.
Let’s be honest, customers can be fickle. If they find a better deal elsewhere, they’ll happily shop elsewhere. Some retailers combat this by offering hard discounts at the till, but all this tends to achieve is a reduction in margins. Statistical data reveals that approximately 60% of customers don’t view discounts as a compelling reason to return to store.
So how do you reduce the number of one-time only customers and get people to shop with you again? Well, we believe (and we’ve researched this a lot) the answer lies in a good customer loyalty scheme.
A successful loyalty programme will make your store the first port of call when customers are shopping. This could be online from the comfort of the sofa, or in your store making their way through the rails. If you can provide a good enough reason for them to do this, it gives you a much better chance of making a sale.
Cloud POS Loyalty reduces the risks associated with one-time-only shoppers. It incentivises customers to return by offering a better deal on the things they buy from you next time. They get it by collecting points every time they buy from you. These points convert into money which they can use against future purchases from you.
It’s a win-win situation; your customers are rewarded for their loyalty and you benefit from the repeat business. What’s there not to like?
Cloud POS Loyalty can be used online and in-store, so customers (and you) get the benefit of points earned. You can manage how many points customers can collect and how long they last. After each purchase, customers receive a balance update so they can keep track of their points.
As Cloud POS Loyalty is built into Cloud POS, you can analyse how the scheme is working for you over time. This enables you to make amendments to points earnings and allocations as you go, keeping you in control.
If this sounds like something that would interest you, get in touch with one of the team.