Consumers always have choices to make. In a saturated market, how do you keep customers choosing to come back to you rather than looking elsewhere?
Loyalty schemes can be an effective tool for customer retention, as well as creating relationships with new and potential customers too. Here are 4 simple steps to guide you towards forming a loyalty scheme to boost revenue while rewarding your customers.
Make it digital
With increasingly tech-savvy consumers using increasingly powerful products, the days of carrying around several physical loyalty cards seem to be numbered.
Studies have shown that 57% of loyalty scheme members would like to engage with the program via a mobile device (Bond Loyalty Report)
It’s now easier than ever to let customers access loyalty schemes wherever and whenever they want it, and a good EPOS system will have online functionality and integration with mobile systems.
Think about it – if customers carry their phones everywhere, your brand can be in front of them at any given moment. Give the people what they want.
Keep it simple
Easy to understand = more engagement
Maximise the potential of your loyalty scheme by ensuring its benefits are laid out simply for customers. The more people that understand how it works, the more people will feel inclined to use it.
While it’s often the most obvious choice, these benefits don’t have to monetary to be worthwhile to a customer. For example, restaurants are already operating on a fine profit margin – it may not suit your business to slice into that margin for your scheme. Instead you can get creative with your offers, such as offering priority bookings for loyalty scheme members during peak times like Valentines Day or the Christmas period. Just remember to keep it relevant and enticing to your customers.
You should also think about how to make the scheme work for you. Do you have quiet periods through the day or week? Offer targeted discounts to get more covers through the door during these times! Again, get creative and come up with schemes that will maximise the benefit to both you and the customer.
Make it prominent
So, you’ve devised your exciting new loyalty scheme. How do you get people involved with it?
The answer is simple: Show it everywhere.
Remember that stat before about 57% of people wanting mobile access for their favourite loyalty scheme? By the same token, 49% people don’t know if there is a way to access their program on mobile. Loyalty schemes don’t work in isolation. You need to make it a part of your business’ culture.
Put it on your menu, make sure that your staff are talking to customers about it and make sure it features in your social media channels and other online or offline marketing efforts – take every effort to inform everyone that interacts with your business about it.
Tie this in with a message of “What’s in it for the customer?”. Make sure when you mention your scheme that you’re always explaining how it benefits them and what they will get out of it. Combining maximum exposure with clear benefits will provide your loyalty scheme with the most engagements possible.
A good EPOS System
For a loyalty scheme to be successful you need to stay on top of it. EPOS systems can handle the analysis and management of your customer data and then automate the rewards process. For example, our MAX Connect system allows you to capture and use client information efficiently, targeting your promotions through the data you have collected as well as allowing for seamless redemption in-store or online.
EPOS systems can save time and streamline your daily operations too, allowing your staff to focus on providing an experience a customer will feel is worth registering for rewards for. As always, a strong customer experience is the foundation of any hospitality business. Loyalty schemes can provide the icing on the cake new and existing customers want to encourage repeat business and higher spending.
These steps can help you to increase your sales, retain existing customers and improve your brand awareness.
With the help of its rewards program, Starbucks increased its revenue to $2.65 billion. The company pinpointed increased participation in the scheme, in which customers load a pre-paid Starbucks card to make purchases on, as the main reason behind these results.
With over 40 years of expertise, find out how GS Systems can provide the perfect EPOS system to build your successful loyalty scheme around. Find out more here: http://gs-systems.co.uk/loyalty/