Profit Proven Loyalty Programs Are Guaranteed to immediately increase your bottom and decrease your top lines! Depending on the complexity of your business or service and the different opportunities your company already presents, CSG will help you develop a profit proven loyalty program that will dramatically increase the number of your repeat customers and also increase the number of referrals generated by your new, loyalty club members. This means that you can spend way less time, energy and money fishing for new customers by focusing on the easier-to-reach and more profitable customer base you’ve worked so hard to generate.
Companies today, in every industry are looking for new and innovative ways to convert ordinary consumers into loyal customers. Having the most highly trained, positive and friendly customer service team in the industry is a great start, but customer service isn’t always enough to convert your walk-in (call-in/log in), one-off consumer to a dedicated customer—a customer completely loyal to you and your company, not easily swayed by price, or your competitors’ specials.
A strategic Loyalty Program will help you to convert consumers into loyal customers by giving them additional reasons/incentives to persuade them that they should use your product or service rather than your competitors’. This starts with the basic (remembering a customer’s name, smiling, saying thank you, learning about your customer) and can be as complex as a complete, semi-automatic, loyalty program, managed through your POS by your customer service team.
Your particular loyalty program is unique to your business, but your loyalty program will likely consist of items that will:
- Increase Value—I get more than the guy off the street for the same money.
- Savings—I simply pay less each time I purchase.
- They Get Something Free—Free stuff always adds value.
- Special recognition—I like that they know me here and treat me so well.
- Ease—The loyalty program makes it easier for me to get the products/services I need.
- Investment—I need to return to your store because I already paid $x.xx for the loyalty program there.
How do I Create An Effective, Strategic Loyalty Program?
It’s not rocket science, but it does take some thought and careful cost/value analyses. You have to be careful that you don’t discount too much to those who are already likely to use and pay for your products and services. There is some careful balancing that needs to be done here and we’ll help you to evaluate your options and create the best program for you that encourages participation which increases sales and your bottom line.
We’ll teach you how to use all of the tools listed above that will have little to no cost to your business that provide the greatest benefit to your customers, increasing sales volume and sales revenues both in the short run, but especially in the long run, over time, as your customer base and loyalty base grows.
Free is not the Key:
Unlike a rewards program which is free to participate in, a loyalty program requires some investment, or buy-in from your customers. Customers value their money and having some skin in the game also make them value your loyalty program and makes them more likely to return to your company for their next purchase. Simple and elegant.
How to sell the program:
Don’t worry, we’ll teach you. People buy for their reasons not yours. And as international sales and customer service guru, Jeffrey Gitomer says, “People love to buy but they hate to be sold.” Your front line team, service team and telephone staff are responsible for presenting the features and benefits of your program, so they’ll need special, CSG sales training before you bring your program to market (click here for more on CSG Sales Training). It is much easier to get a customer to purchase your program after they’ve been made to want it and they can easily see the value it represents. Your entire team must be trained, prepared, and believe in the program, so much so that, given the opportunity, they would buy it from themselves.
How to price your Loyalty program:
A product or service is only worth what a customer is willing to pay for it. Therefore we cannot base the price on what we think or wish the program is worth. It’s a little more involved than that. We’ll do a strategic market analysis on your behalf and then base the price of your loyalty program on what the current market will bear. It is important that we are very strategic when we develop the program so that we can change the price over time, as the markets dictate, reacting and adapting quickly to changes in the marketplace.
Do I Need a Loyalty Program?
If you would like to decrease the amount of time, money and energy you spend advertising to, and trying to find new customers, the answer is yes. It is much easier and more profitable for you to market to your existing customers—a loyalty program is one of the most important and profitable weapons in your marketing arsenal as you encourage your customers to use your products and services more often and refer you and your company to their friends and colleagues.
Get started today by calling 760-275-1137 to discuss the next steps in getting your team armed and ready to selling more and maximize your profitability. Or simply provide the following information to schedule a free consultation.