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Building customer loyalty for your business
Building loyalty and repeat business is important for your success. Research shows that customers are more likely to frequent a business that rewards them for coming back in.
Many an owner will attest to the value of the basic “buy 10 get one free” incentive that rewards people for frequent coffees, haircuts or shoe repairs. Whether a simple punch card or an offer displayed on a mobile and tracked through a terminal, research shows that customers are more likely to frequent a business that rewards them for their loyalty.
Investing in your customers to get their repeat business
When you reward your customers for their business, it’s as if you are making a small investment every time they spend with you: your business “invests in” your customers’ rewards, your customers bring their repeat business back to you, and your business grows. When you offer rewards to your customers you are also communicating your appreciation and delivering an enhanced customer experience.
That added value goes a long way to building loyalty, too.
Rewarding customers should not be compared to discounting. The main difference is that, while discounting will also drive a sale and bring in customers, the business generated from discounting is mostly short-lived. There is no way to ensure that those customers will return. Customer rewards, on the other hand, promote loyalty and repeat business. Plus, the added-value that you give your customer enhances your image in a way that discounting cannot.
Loyalty and the bottom line
As a business owner or operator, it’s normal to be constantly mindful of risk. Investing in a programme to manage customer rewards should not be a high risk proposition. That doesn’t mean that there will be no cost whatsoever, or that you need to resort to a punch card solution. To minimize your risk and get the best value, look for a programme that in terms of resources requires little technical set up or staff training. Consider the upfront cost and complexity to get started. Also, what is the monthly operating cost and how much will you pay for rewards? In other words, look closely at what you get for your investment.
High Street Loyal - a new community loyalty programme
XLN is proud to add High Street Loyal to our portfolio.
Supported by Visa, High Street Loyal provides merchants with a way to reward their clients automatically when they pay with Visa. Customers sign up by registering their Visa card and earn High Street Loyal Points at participating restaurants, cafes, pubs, shops and services in their local area.
Merchants are set up for free on the platform and there are no monthly fees. There is no cost for technology and there is no staff training. Once the programme is in place, everything is automatic because of Visa tracking.
Merchants pay only for the points when they reward registered customers, with the cost calculated as a percentage of the transaction. Customers receive personalized digital thank you messages, notification of points earned and news of offers nearby – all as part of the programme’s free marketing.
High Street Loyal is a true value-add, low-risk loyalty solution.
Free Points Offer
In partnership with High Street Loyal, XLN has created a special Free Points Offer for small business so that they can experience this exciting new programme and give away free points until July.
To find out how you can join High Street Loyal with this limited-time offer, visit merchants.highstreetloyal.uk