Walk into any grocery or retail store, and you’re likely to be presented with some form of loyalty program. It seems everyone has their own way of trying to earn your repeat business, and there’s a reason why loyalty cards are a favorite technique: they work.
It costs businesses upwards of five times more* to acquire a new customer than it does to sell to an existing one. If you can earn your current customers’ loyalty, you can spend less time and resources chasing new businesses and focus on maximizing your established client base.
Take a look at how you can leverage printed loyalty cards as an indispensable marketing tool:
Choose a High-Value Reward
It’s not enough to offer a loyalty program. The goal is to get people to participate, and they most certainly won’t if they don’t see any value in what they stand to get from the program.
Consider choosing a premium item as a reward, such as a large coffee as opposed to a small one. You might even offer a choice of items so the customer feels in control of their reward.
Build Early Momentum
Start them off on a high note by giving them a freebie box when they receive their card. This helps build early momentum and pushes them closer to their reward without any effort on their part, giving them every incentive to keep moving toward their goal.
Personalize with Variable Printing
Being a Las Vegas printing company, we know quite a bit about hotel and casino loyalty programs. Their databases can (and do) keep track of what type of gambling games are played, favorite restaurants and meals, and even the type of pillows their customers prefer. This data is like gold!
Strong loyalty programs use customized messaging to lure their clientele back…and back again. Using variable printing with direct mail allows laser-like marketing that is extremely personalized.
Make the Reward Easy to Achieve
The farther away the reward, the less likely people will be to participate. You don’t want your customers to feel discouraged, nor do you want them to feel like you only care about getting more sales.
“Customers that recommend brands to others are critical. Invest in strengthening this loyalty behavior.”
Make it Free to Participate
Some companies charge “membership fees” to take advantage of loyalty perks, and in some cases, this works. For example, people are willing to pay $99 for Amazon Prime because they receive free two-day shipping on eligible items plus a slew of other freebies.
However, for most loyalty cards, charging a fee might not make sense. If a customer has to pay to be part of your program, it will take them some time to make their money back via whatever perks you’re offering.
Remember, the goal here is to build loyalty. You might earn a few extra bucks charging a fee for the program, but if your customers can’t receive their expected value from it, then you may be setting yourself up for the opposite of customer loyalty.
Promote Your Loyalty Program
If you establish a loyalty program, don’t keep it to yourself. Consider printing promotional materials, such as in-store banners, cash wrap signs, buttons, pins, and other items that let customers know about it. Even the best employees may forget to mention it to every customer, and each time that happens is a missed opportunity to earn their repeat business.
Loyalty cards are arguably one of the most cost-effective marketing tools you can invest in. They cost very little to buy, they’re useful, and they can go a long way in forging stronger customer relations.
If you’re not sure where to start, reach out to our sales team today to discuss your print and design options.