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How can Loyalty Programs be the New Way to Boost Your Business
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LOYALTY PROGRAMS THENEW WAY TOBOOST BUSINESS PRESENTATIONS
INTRODUCTION Loyaltyprograms are agreatway tokeepyour customerscomingbacktimeandtimeagain, whichcanbe especially useful if you’re still growingyourbusinessor if you’re running a startup with alimited budget. Offering loyal customersspecialdeals,perks,coupons,and other incentives notonlykeepsthemcoming back toyourbusinessbutcanevenencourage themtorefer their friends and family members to yourcompanyaswell.
WHATARELOYALTYPROGRAMS Loyalty programs are an excellent way for businesses to keep their customerscomingbackandspendingmoremoney.Theyencourage repeat visits andrepeatpurchases,and inmanycases provide perks and special offers that can’t befoundanywhere else. Ingeneral, there are two kinds ofbest loyalty programavailable: single-store programs that apply only at aspecific locationorchainwide programs that offer incentives nomatterwhereyoushop.Buteven within these categories, different businessesuse loyalty cards in wildly different ways—andmanycompanieshavebegun experimenting with entirely new strategies for building customer loyalty. PRESENTATIONS
WHYDOYOUNEEDALOYALTYPROGRAM? Loyaltyprogramsandrewardshelpyouconnectwithcustomers, increasecustomerretention,andencouragemorepurchases.A well-designedloyaltyprogramwillallowcustomerstoearnpoints towardrewardsinexchangeforshoppingatyourbusinessand engagingwithyourbrand.Customersaremorelikelytoengageif thereisarewardwaitingforthemattheirfavoritebusinesses,but it’suptoyoutomakethemwantthatreward!Makesureyoukeepit excitingandrelevant—findwaysofincentivizingcustomerstoward purchasestheyalreadyplanonmakingortowardpurchasesthey normally wouldn’t consider.
WHATARETHEBENEFITSOFA CUSTOMERREWARDPROGRAM? Oneofthe first thingsthatcome tomindwhenyouhearloyalty is rewards.Yourcustomersloveyourproductandtheywillgooutof theirwayformoreof it?Whatbetterway tosaythanksthanwith afreebie?Likeany gift, though,not all freebiesarecreatedequal. While aslap-on-the-wristcouponfor10% offyournextorder mightsuffice forsomecompanies,othersmightwantsomething muchmorecompelling—andwithbiggerbenefits.Forexample, howabout acash-backdeal? Afree gift cardwouldbecooltoo! Whateveryoudecideon,there’snoreasonwhyyoucan’tuse bothtypesofloyaltyprograms inconjunctionwithoneanother. PRESENTATIONS
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