The holidays season has passed and most likely this time provided business owners with some feelings of appreciation for the network of people that they consider to be their “regulars”. These are the people that feel like an extension of the business family. Their support is critical to the success of the business, so why not give them a reason to feel as valuable as they are? Customer loyalty programs do just that, and it’s easy to see why their popularity is on the rise.
Rewards programs can look incredibly different from business to business. Clothing retailers may offer special styling sessions, automotive services may offer a free oil change and restaurants have a wide selection from which to pick. Half price tacos on Tuesday at one restaurant, free appetizers at another, the possibilities are endless! Some business owners are leery of incurring added cost with programs that are based on giving something away for free. That does not have to be the case! There are ways to select budget friendly avenues for these rewards, and studies show that people who receive these rewards will spend more in your establishment at the end of the day. The important part is to select something that you believe your customers value and will therefore make them feel as though the time and money they’ve spent in your establishment matters.
An important part of any business is retaining your base of regular customers, with a follow-up goal being to grow that base continuously. Keeping your current base happy is a top priority, as these are the people that are most likely to refer your business to their friends and family, which is the best kind of marketing that cannot be purchased. If you begin rewarding your current happy customers, chances are good that they will even more enthusiastically share their great experience with your rewards program and your base continues to grow! Rewards programs are well known as an effective method of customer retention, and depending on how you reward your customers, sometimes can even result in valuable marketing. Reward your customers for a Facebook review or customer referral and the money spent on rewards has already helped your business. Everyone wins!
A critical part of the rewards programs is a reliable system that will keep track of your customers’ dollars spent and dole out the rewards as needed. Alpha POS Services will be providing the software to support loyalty programs beginning this year. It is an exciting step that will allow the businesses we value so greatly as customers to show appreciation to their loyal customers.