What’s the biggest asset a retail business could ever have? Products? Monthly turnover value? Market business valuation? Of course not. All of these things play an important role in the structure of every business. However, the most important asset of any business is and always remains the customer.
The Importance Of Customer Loyalty
There’s no denying the fact that your customer is the heart and soul of your business and each customer represents an estimated value to the business. For every mean sale that a customer generates, there’s an average lifetime customer value that estimates the customer’s asset-based value. This value is higher for a specific set of consumers that keep drawing repeated sales, otherwise known as loyal customers.
Customer loyalty allows businesses around the retail world to regenerate a huge chunk of revenue each quarter simply by providing the provides that the customers desire and by maintaining customer satisfaction, however, this isn’t as easy as it looks. To enable your loyal customers to be true to your business, you need to realize that customer loyalty programs are important. Usually a marketing team is needed to set up and analyze custom reports to understand the buying habits of your customers and to realize what exactly would be the perfect customer loyalty program that would keep the customers intact with the business.
Understanding Counterpoint’s Integrated Loyalty Programs Module
As always the experts at NCR want you to stay ahead of the race when it comes to building customer loyalty for retail businesses. This is one of the main reasons why NCR comes integrated with a built-in Customer Loyalty Programs module that allows you to create complete loyalty programs in just a few taps.
The module allows businesses to generate reward points to be earned upon sales which can later be redeemed by your loyal customers for special incentive or even on future purchases. From grocery stores to boutiques, from liquor stores to hardware stores, no matter what business dimension you may belong to; if you are from the retail industry, NCR’s integrated customer loyalty programs are just what you’re looking for.
How Does It Work?
NCR Counterpoint’s loyalty program module provides users the ability to create excellent loyalty programs in just a few taps of the button. The module allows you to set up different rules per loyalty program as to how customers can earn the points. You also complete control of the dollar value that needs to be allotted to these customer loyalty points or reward points. You, as the user, also have the ability to create a maximum number of points on each ticket.
Each of your business’ loyal customers has the ability to be enrolled once in each loyalty program where it can be chosen to get points per dollar spent or per unit purchased. As the business owner, you also have the ability to set reward points on item characteristics such as the vendor, the actual item number, the item category and so forth. You can also base it on the date, the day of the week, or any other special sales condition. Hence, the possibilities are endless when it comes to creating custom campaigns.
Here’s a tip: Think you get low sales on Mondays? Set up a customer loyalty program that is only applicable on Mondays at a specific product. It’s THAT easy!
Usually, businesses consult marketing professionals and more for creating customer loyalty programs as these programs are usually independent which is why the need for a marketing professional is imminent. However, with the NCR Counterpoint, you can set up complete customer loyalty campaigns by simply the press of a few buttons. Anyone with the right sense of customer analytics can create a customer loyalty program with the NCR counterpoint.