We hear the term often, but what is Loyalty Marketing? This is when a business focuses their marketing to existing customers by offering perks and/or incentives. It is often less expensive and easier to increase the purchasing of an already happy customer than to attract a brand new customer.
This type of offer is not new, but it still works. Offer a VIP Membership – it does not need to cost the customer anything to join except maybe providing an email address. Then once a month through an email offer members a new product preview 2 days earlier than non members, or sale prices a day earlier. Set up a special VIP Member evening outside of normal store hours to view your new fall or spring product line and provide coffee and tea. Offer VIP members free Christmas wrapping of gifts or free samples. It does not have to be costly.
Everyone likes to feel they have gotten something for free. So set your sales to feed into this emotion. Buy one get one half off, or purchase a specific product and receive a free gift. This will often attract previous customers that you may not have seen for awhile.
Through your customer database you can improve customer loyalty. Consider sending out a Happy Birthday card or email. Do you have small items that you could access in order to send a gift out on a client birthday or wedding anniversary? Consider sending a card out with an offer of a 5% discount on purchases during the month of their birthday.
Is there a business down the street that you can partner with to offer discounts to employees of both businesses? Is it possible to co-ordinate your sales events? Sharing the cost of marketing will likely reduce your costs and entice new customers into your establishment. It will also get employees at both businesses referring to each other.
Many large corporations have seen success in creating games to bring in customers. Try a store scavenger day, a scratch for discount weekend or pick a card for a free gift day. People love the fun of games, and it is easy to create excitement by promoting it in-store for a few weeks prior to the event.
Try something silly like offering a discount for anyone in a Hallowe’en costume during that week leading up to October 31st and post photos on your business Facebook page.
You can reap benefits by using a little creativity and energy to bring customers back into your business to make repeat purchases. And, it can even add a little fun to the day !