Rewarding Repeat Customers

Retail stores don’t really want many retail customers. That may sound curious but the definition of a retail customer is somebody who shows up once or twice and the never comes back. The store really wants somebody who is a loyal patron and will return repeatedly to do business and make purchases. That’s where the real money is made in retail and the stores will try a number of campaigns to keep those types of customers returning. One such endeavor that can be managed through a merchant account is known as a loyalty card program which helps to deliver an improved customer experience.

The concept is pretty simple. A customer who has done a fair amount of shopping at a given store is rewarded with a card that designates him or her as a loyal customer. The card is then used to acquire points for future savings on purchases, or allow a discount for a given purchase. The value is fairly obvious. Depending on the store manager’s ingenuity, a loyalty card can be used for special campaigns to promote new products, or even to help reduce the inventory stock in the back room. The financial institution through which the store has a merchant account is only too glad to help manage this program for the store.

The loyalty card is definitely a winner when it comes to profit. It’s not only encourages repeat business, but results in increased purchases made at the time of those visits. The best part of all is that it tells a frequent shopper he or she is a valued customer. That good feeling can result in some very generous word-of-mouth referrals to bring in even more customers, which is something any retail establishment wants to see. To learn more about loyalty programs and how they benefit small business, click here.

 

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