Loyalty. It’s something that we experience in many aspects of our lives... from standing by our losing sports teams (Go Broncos!) to committing in a relationship. However, when it comes to your business, what exactly defines loyalty?
- Loyal customers are the regulars that come in frequently, refer their friends, hype you up on social media, and will come to your business even when your products aren’t on sale. These are the people who naturally help you drive revenue and grow your customer base. These are the people you strive to attract.
What is the best way to do that? Through a customer loyalty program.
- A loyalty program is essentially a marketing program that offers rewards to frequent customers or incentivizes purchases in order to encourage brand loyalty.
If you have considered offering a loyalty program in the past, or if you aren’t convinced of its effectiveness for your business, consider these benefits for why a loyalty program could be worth looking into.
1. Attract new customers
Loyalty programs are an easy way to bring in new business. Consumers are bombarded all day every day with advertisements of some kind whether it’s while scrolling social media, watching tv, or even driving down the street. A loyalty program is an easy way to stand out from the crowd and attract new customers interested in finding a deal.
2. It's more affordable than you'd expect
For small to midsized businesses, we at VizyPay recommend Clover POS systems to somebody interested in a cost-effective loyalty program. Clover’s Point of Sale systems are sleek, easy to use, and allow you to implement a customer loyalty program seamlessly into your business through the POS device itself. Typical TV or radio commercials are thousands of dollars, and very difficult to get an immediate return on investment. Clover Rewards has a free version included with your Clover subscription, and a more detailed version you can choose to subscribe to. Loyalty programs through VizyPay and Clover are affordable and create a more reliable and consistent customer base.
3. More sales volume
Big businesses like Starbucks, Sephora, and Amazon Prime have all used loyalty to drive business. You can spend the same amount there as you would at a local establishment, but you get a perk of some kind for buying with them instead, so oftentimes they win out. Loyalty programs incentivize customers for spending money at your establishment instead of at your competitors.
4. Generate some buzz
Loyalty programs helps you not only to attract new customers, but to make your regulars feel appreciated. The more a customer feels valued by a place they spend money, the more likely they are to refer that business to family and friends. Loyalty programs are a great way to boost your reputation instantly and get people talking about why their friends and family should be going to your establishment.
5. Easy market research
You could pay $3,000+ for a radio ad, or even boost posts on social media for a couple hundred dollars, but how do you know if the message you are choosing to spend money on will generate business? Loyalty programs are an easy way to test which incentives will bring customers through the door without having to spend anything extra. You can send out a special or reward to your registered customer base through Clover Rewards, and through trial and error, you will find out exactly which rewards excite your customers.
6. It’s simple
VizyPay has chosen to partner with Clover for this very reason. They make implementing a customer loyalty program incredibly easy and fun to do. The same POS system that you swipe a card through is the one that will store customer information, send out e-mails or texts, and track their purchases. At VizyPay we can help you determine which Clover device is right for your business, and get you started on Clover Rewards!
Implementing a customer loyalty program can seem daunting, but VizyPay and Clover make it easy. We will help you get started and set your business up for growth and success. Contact VizyPay to learn which Clover device is right for you. Reach out to your local agent, call 515-373-8699, or visit www.vizypay.com to learn more about integrating your business' credit card processing with a Clover device.
Author: Amy Hayes, Account Manager