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Loyalty Programs
The best way to reward your best customers and actually profit from it is by implementing a customer loyalty program. Typically, a loyalty program consists of offering memberships to your customers that allow them to collect a currency that rewards them for their loyalty. The currency accumulates with each transaction, per your business intelligence rules. Your customers can then exchange the currency for rewards that are typically available by selecting from items in a catalogue. Once a customer becomes a member, you can track his/her purchases (what, when, where & how much) over time, which will allow you develop personalized, meaningful, profitable promotional offers to encourage that customer to spend more, more often. Well-planned and well-managed loyalty programs are proven relationship marketing tools that will increase revenues and your bottom line by 30% or more!
Typical objectives of a loyalty program:
Increase revenues, turnover and profit
• Customer retention – establish long-term relationships
• Customer acquisition
• Customer upgrading
• Customer win-back
• Customer advocacy
• Increase customer frequency
• Increase customer lifetime value
• Reduce mark-downs
Cost Reduction
• Reduce advertising costs
• Intelligent deselection – eliminate unprofitable customers
• Best customer marketing
Planning & Strategy
• Intelligent response to competition
• Improve product awareness
• Measure customer service
• Direction when formulating pricing structures
• Build solid relationships
• Determine choice of inventory
• Merchandising – combine products/services bought at the same time
• Select new store locations
Impact Financial's turnkey loyalty programs are much more than standard, run-of-the-mill loyalty programs. Thanks to our innovative rules-based technology, our programs are completely flexible. Even better, they are easy to use for cardholders, front-line staff and program administrators, which makes them easier for you to implement and maintain. But best of all, with an Impact solution, you will get to know your customers and offer them personalized promotions and incentives on their receipts at the point of sale! Our technology is a one-to-one relationship marketing solution that will give you a competitive advantage! Furthermore, our real-time reporting and data mining capabilities convert your raw data into powerful information that will lead increased sales and profitability.
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