With consumerism and product homogenisation taking over the globe,how can your business stand out from the crowd?
If we take the stance that all consumers are thinking, feeling and emotionally responsive creatures (which they are), we can develop a scheme that triggers a positive connection between your product and the repetitive purchasing behaviour of an individual.
This point-of-difference that your customers crave is achieved through points-based programmes, more commonly referred to as Loyalty Programmes. A successful Loyalty Programme empowers businesses to assign ‘value’ to each individual customer by rewarding them for their loyalty to the brand, store, product and/or service.
It sounds easy and it is!
The beauty of Loyalty Programmes is that each one can be chopped and changed to best suit your business. And if you didn’t know this before, you know it now, the cost of retention is significantly lower than acquisition when you make your customers ‘regulars’. And, they can even produce a higher ROI compared to your other marketing activities, as point-based schemes encourage frequency in purchasing behaviour through member-only rewards.