Why have a Customer Loyalty Scheme?
Customer Loyalty Schemes are a great way for you, as a SMALL-MEDIUM SIZED BUSINESS, to keep your hard-earned customers coming back to you, instead of going to your competitors. It’s a proven fact that retaining existing clients costs a business far less than attracting new ones, so a good Customer Retention Programme can add significantly to your annual profits.
In difficult trading times, customer loyalty is more important than ever, and an effective Customer Loyalty Programme will help you build a loyal customer base. In today’s fast moving competitive marketplace, you need to be able to offer more than just good service if you want your customers to continue to shop with you. Not only must your product or service do what you said it would do, but your customer has to feel good in the process of purchasing from you. Offer them something extra that they’ll appreciate, such as a discount on all their purchases and, not only will they be happy, they’ll beat a path to your door!
Also, a Customer Loyalty Programme is an excellent way to win back customers who are no longer shopping with you. After all, you have their contact details and can incentivise them to purchase from you again, at far less than it would cost you to attract new customers.
The bottom line is if you can improve customer retention, not only are you likely to increase your sales, you should also be able to reduce your advertising costs.
Choosing the right Customer Loyalty Programme
By choosing the most appropriate Customer Loyalty Scheme, you will ensure that your customers will buy more from you and may even become less price conscious, which means improved cashflow and profitability for your business. In addition, loyal customers are more likely to recommend your products or services to their friends and colleagues, bringing you extra revenue and reducing your advertising and marketing costs.
Make sure that the rewards you are offering your clients are both attractive and easily attainable, or there will be little incentive for them to participate in the scheme. For example, it could be counter-productive for you to set a minimum spend in order for them to qualify for a discount.
Offering a discount to your regular customers through a Loyalty Programme will make them feel special and shows them that you value their custom, and they will appreciate that.
8 Reasons to become a Lyoness Loyalty Merchant
In today’s tough economic climate, customers are keener that ever to save money on their purchases.
The Lyoness SME Loyalty Scheme
By becoming a Lyoness Loyalty Merchant and providing your customers with the Lyoness Cashback Card, not only are you offering them a discount when they buy from you, but you are also enabling them to receive Cashback on all their regular everyday purchases (such as food, fuel, clothing, holidays and travel, etc.) from Lyoness Loyalty Merchants worldwide – this is a powerful incentive!
So, here’s why you should consider becoming a Lyoness Loyalty Merchant:-
- More Customers – Lyoness will promote your business to its entire shopping community via the Lyoness website and Merchant Directory, and other Lyoness Members (now 3 million in the UK) will seek out your business and purchase from you, as they prefer to shop where they’ll receive cashback
- Increased Customer Loyalty – Your existing customers will appreciate the benefits you’re giving them, new Lyoness Member customers will show strong loyalty because of the financial benefits and rewards of the Lyoness System, and old customers will be encouraged to purchase from you again
- Increased Sales – Your sales will grow due to the increase in both new and returning customers, the fact that you’ll be attracting customers from further afield, and that your customers are more likely to recommend others to purchase from you due to the benefits they are receiving
- More Profit – An increase in turnover will result in an increase in profitability, as you have not had to spend more on advertising and marketing to attract these new customers, and your business will grow stronger
- Cost Effective – Apart from the low initial start-up cost, there are no ongoing membership fees, franchise fees or other costs involved in administering the Lyoness Loyalty Programme, including transaction processing
- Reduced Business Costs – By procuring services from fellow Lyoness Loyalty Merchants, you could save money on things like utilities, fuel, printing, stationery, business travel, office equipment and professional services
- A Powerful New Income Stream for your Business – Every time you issue a Lyoness Cashback Card to one of your customers, you will benefit from every purchase they make at other Lyoness Loyalty Merchants, regardless of whether it is regional, national or international, and whether it’s made online or offline (this includes all their everyday purchases such as food, fuel, clothing, holidays and travel, etc.)
- Loyalty Bonuses – Additional financial Member Benefits will accrue to you, as you and all your customers continue to make everyday purchases from Lyoness Loyalty Merchants using your Lyoness Cashback Card
To discuss becoming a Lyoness Loyalty Merchant, or to arrange a meeting, please contact Howard Mostyn on 0845 206 2277.