This is the first article in a multi-part series on Social Media Basics. While this series focuses primarily on MobileBytes Point of Sale for restaurants, there are still some great practices and concepts that you could easily apply to other systems and retail operations. With that being said, let’s talk about Loyalty Programs.
Common Loyalty Programs
Below are two common loyalty programs that most Alaskans would immediately recognize:
- Grocery store gas rewards
- Coffee punch cards
Let’s look at an example for gas rewards, in this case Fred Meyer. In their loyalty program, you earn one fuel point for every $1 you spend. Once you earn 100 points in a month, you can redeem it for one discounted fuel purchase (limited to one fill and a maximum of 35 gallons). Now their program gets a little more complicated on exactly how much of a discount you get and some other details, but you get the general idea of how this works.
For coffee punch cards, it’s a bit simpler. In most instances, you buy 10 coffees and then your next one is free. (It’s worth mentioning that the downside to using a true punch card is all the ways it can be abused.)
Both programs, while different in execution, attract and retain customers simply by rewarding customers who continue to visit the merchant - that’s you! Depending on the program, the more they visit or spend, the more they earn. Even if it’s something small, like a free appetizer or a similar type item, customers love getting something for free, and it works. I suspect that most Alaskans are members of not just one, but several loyalty programs. From gas rewards, airline miles, free shipping and more – we use these programs just about everywhere (Alaska Airlines miles anyone?).
The companies that have these types of programs are typically very successful and find great value in the information they gain from the customers that participate in the program. And, while there is no guarantee that having a loyalty program will make your business a success, it’s a sure bet that it will play a key part in getting you there faster.
Overall, I think you’d be hard pressed to find a reason not to implement a loyalty program. So how do you start a loyalty program? (And, if you are already a MobileBytes customer, it’s easy, so let’s get started by clicking here.)
If you are interested in our loyalty program and aren’t sure how to make it happen, send me an email at firstname.lastname@example.org – I’m happy to help!