In a tough economic climate people are always looking for a way to attract and retain customers, and really give themselves an edge on their competitors – in recent years loyalty card schemes have come to the forefront as a popular way of being a very cost-effective way of keeping the overheads and additional costs down for a business, as well as attracting in new customers across the board.
When you visit most retailers, chances are you will find that they have a loyalty card scheme in operation, and this basically involves giving customers “points” for every purchase that they make from that shop. In turn these points are built up over time as the customer continues to make purchases and these can eventually be redeemed for rewards and products from that store.
What are the benefits of a loyalty card?
There are a number of benefits of a loyalty card scheme, but to a shopper it can be a way to really get the most out of your purchases. A loyalty card scheme can give you cashback, or reward you with points for every spend and eventually you can get free products – products that you would usually purchase in your regular shop, and this can be a great way to save money.
In addition, many loyalty schemes offer the option for you to be entered into bonus prize draws or even give you the chance to win cash prizes and presents at special times of the year – i.e. Christmas – and this can be a great way to get some additional cash at a very important time of the year.
Why might my business choose to operate a loyalty card scheme?
From the perspective of a business, a loyalty card scheme can be just that little bit extra that your business needs to put you ahead of the pack, and in a competitive marketplace it could just push you over the line.
A loyalty card scheme is also a great way to learn about your customer’s shopping habits and collect all of their information together in one place, allowing you to easily run promotions which really target their needs.