This post is intended for those who want to start a business of running Loyalty Rewards Program for small businesses locally.
Ever wondered how the big brands make their customers keep coming again and again?
Well, approaches towards making that possible might be different but one thing any small business can do to achieve the same is by running a Customer Loyalty Rewards Program, which is a proven way of bringing repeat customers.
While creating best of the bests products and services is top priority for the big players, it’s their marketing strategy that makes the difference. And if any strategy is aimed to bring repeat customers and build loyal customers base, it could simply be a Customer Loyalty Rewards Program with some attractive benefits.
Customer Loyalty Rewards is a low-cost marketing program that encourages customers to make repeat purchases, to earn points and get more discounts, or to receive other offers. It increases purchase frequency and helps in retaining customers, no matter old or new, and helps in building relationship.
A shopper under a loyalty program would certainly get more benefits than the one who is not under such program. Specially for frequent buyers, it’s a great money saver.
In nutshell, it’s a win-win situation for both businesses and customers!
Now as you have got a glimpse of what a Customer Loyalty Program is (or perhaps you already did know about it as it’s very common these days and you might have one or two loyalty cards in your wallet, check it), how about starting a business of running such programs for small businesses locally in your city?
Yes, here I’m talking about a business of running loyalty programs for other businesses and not for your own business, as already stated in the beginning.
Small businesses in any city would certainly be interested in retaining their customers and keep them coming. But if you ask them if they have put any strategic effort in doing so, the answer would be ‘No’ in most cases, if not all.
The reason behind this could be lack of knowledge, resources, expertise, technology, time, etc. This is where you can put in your efforts to do a business of running Customer Rewards Program and help small businesses in your city gain more loyal customers.
Your focus would be on understanding different small businesses specially retailers, spas, restaurants, clinics, etc. and their customers. This is much required because the same kind of loyalty program might not work for all businesses. Success would depend on your ability to design the best and most suitable loyalty program for each client.
If you look around, you will find the following kinds of customer loyalty programs:
There is no any standard form of loyalty program. The best way to go is designing a unique loyalty program that suits the business and its customers. So, finally your job is to put a system into place that brings repeated business for your clients.
Do you think this business is for you? If you have come across such a business idea for the first time, things might seem cumbersome. But don’t worry, this last part is hopefully going to bring a sudden change. Take it easy!
It’s 21st century. Loyalty programs have come a long way from just offering “Buy 2 Get 1 Free”. The equipment and technology required to run such programs have also transformed into different kinds.
For example, nowadays businesses are issuing electronic cards which are linked to a website making it easy for customers to check all purchases they have made and points they have earned. Do you have any such card?
For any business owner looking forward to launch its own customer loyalty program, there are many software solutions and online tools and apps available. But, since not all businesses have the ideas and know-how to run such programs, you come to their rescue.
So, it’s quite clear that for a business of running loyalty programs for other businesses, you’ll need a powerful platform/software solution to carry all the activities.
There are two ways you can have it:
1. Develop your own software
2. Use an online platform called LoyalCheckin
In case of the first option, you may hire web and software developers to build a robust platform that has all the applications to manage offerings, marketing tools, track customer behavior, etc. This platform would be a bit different than what’s generally available, just because this would serve different businesses differently. Remember, the loyalty programs would be launched for different clients! Finally, you’ll also need to appoint experienced people to maintain the platform.
The second option i.e LoyalCheckin, comes handy. This platform somehow fits the business idea I’m talking about, with a modern approach. LoyalCheckin is a user-friendly platform that helps you manage different loyalty programs for your clients. You can provide each of your clients a loyalty reward app and a dedicated webpage where their customers can create accounts, share deals with friends, punch mobile loyalty cards, redeem mobile rewards and receive rewards for promoting business in social media.
Check out their website for more information.
Hope this article helps you in understanding some bites of Customer Loyalty Program and the business in it. Do your research, get convinced, and get started!