Why a Loyalty Program Is Essential for Small Businesses

It’s vital that small businesses find ways to continually build their customer base in a fiercely competitive marketplace. It’s also important to show customers that they’re valued.

One of the best ways to retain current customers – and attract new ones – is through a strong customer loyalty program, from Loyal Loops, which encourages return business. Your business will increase revenue and provide a better customer experience by treating the business-customer relationship as a journey, rather than a one-time transaction.

Here are some reasons for and the benefits of having a Loyal Loops loyalty program:

Increased Sales
Loyal Loops loyalty programs can provide existing customers with added incentive to make a purchase. The incentive to purchase even more can increase as the rewards increase with each purchase. But it’s important to make sure that the rewards offered are in line with customer’s wants and needs. It’s also important to remember that not all loyalty programs are the same.

Built-In Marketing
Building customer loyalty can create word-of-mouth marketing by frequent customers that is more effective than traditional marketing. It can even save money on advertising and marketing efforts.

Provides Market Research
You can create a better customer experience and give yourself a competitive edge over your rivals by finding out what incentives are most attractive to your customers.

Separates Your Business From Competitors
Loyal customers can help strengthen a company’s brand, as well as make it immune from competition and changes in the economy. Customers stick with a brand they trust.

Builds a Reputation
You can increase the chances of customers recommending your business to others by building a strong loyalty program. Customers want to feel valued, and not just during the sale but after. You’re telling your current and future customers that you’re interested in building a long-term relationship – and not just making money on one-time purchases – with a loyalty program.

It Doesn’t Cost a Lot
With Loyal Loops, a business can now harness enterprise level solutions for as low as $99 per month.

You’re Not Alone
Unlike our competitors, each client is assigned a Customer Success Manager (CSM) who helps create and implement the loyalty and rewards programs you want. Once the programs are implemented weekly discussions by your CSM help you to fine tune them even more to get a maximum return for your business.

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3 Reasons Grocers Profit From a Loyalty Program

A loyalty program, by Loyal Loops, can be an effective component of your grocery store’s marketing plan. Successful marketing plans are designed to bring in new customers and keep old ones coming back. Loyalty programs have three advantages to making this happen. They can establish an excellent reputation as a brand which offers high value for its products, take advantage of customers thinking in terms of sunk cost, and channel both of these into an effective word-of-mouth advertising scheme.

1. Great Value

The best part of a loyalty program is how it works itself into your customers’ thoughts about your business. If a customer believes that they are getting more products for free, they will have a much higher opinion of your store. Even if the real savings is something as low as a five dollar discount for every hundred dollars they spend, this makes a customer feel as though they are skilled shoppers saving huge discounts. Loyalty programs focus the added value they feel like they are getting to your store, associating the better savings with your business.

2. “I can’t stop now”

A common reaction to investing time or money into a project or program is to feel that “if I’ve put this much into it, I’d be wasting it if I don’t put more.” This is the sunk cost fallacy, and is a powerful marketing tool. By tying your loyalty program to easily understood goals, customers will feel that they have already started working towards that goal and would lose all their progress if they stopped now.

3. Spread the Word

Lastly, these tools create their own word-of mouth campaign. You want your customers to proudly say that they shop at your store, whether because of the savings or out of habit. This has the power to come up in casual conversations with friends and family, spreading an effective message about your business.

These three benefits from a loyalty program can dramatically increase the profit of your grocery store. Contact Loyal Loops to find out at how you can work them into your marketing plan, and soon you’ll be seeing a lot of the same faces coming in again and again, bringing new faces along with them.

Why You Need a Loyalty Program

A steadily increasing customer base is something all businesses want, and one way to get more people to notice your business is to begin a customer loyalty program that rewards them for doing business with you. The benefits to offering these programs are many.

People like being rewarded, and they like the idea of getting needed services for free; if they know the loyalty program will result in these benefits, they’ll do more and more business with you. That stable customer base will also bring in new customers through referrals. As those referrals become steady customers, they’ll refer more people, and so on.

Customer loyalty programs also make you stand out, if you make the rewards useful and fairly substantial. These programs don’t have to be elaborate; they can be as simple as cafes offering free coffee after a certain number of purchases, or a copy shop offering free color copies or brochure printing after a certain number of transactions. But if you offer that free coffee fairy frequently, or you make your most popular copy service free, customers will see doing business with you as a great way to save their own budgets.

Loyalty programs that give you repeat business also enhance your local reputation. Repeat customers are often on a first-name basis with employees, and this can actually make your business seem friendlier and more supportive of the community. Loyalty programs don’t take much energy to implement or maintain, making them one of the easiest ways to make your business a success.