With studies indicating over 3.8 billion memberships by consumers in the US alone, you have an enormous playing field to experiment with as an average consumer is active in 6 to 7 loyalty programs, whereas they have opted for more than double the amount. This is not all as 54% of the loyalty programs are also declared as dormant. Considering these remarkable numbers, growing businesses can make good use of them as loyalty programs are a viable solution to bring in more customers and promote recurring visits.
A Growing Market Trend
Loyalty programs might boast an impressive number of consumers in total, but realizing the fact that around only half of the users actually utilize these programs is a shocking revelation. This fact is likely to surprise you if you own a business as customer loyalty programs can augment the potential of your business via bumping up your sales a notch.
The kind of loyalty programs that most people are well-acquainted with includes a collection system for the accumulation of points. These points gather around with time and can be liquidated or cashed in at the time of purchase later on during a recurring visit. The advanced Cloud Point of Sale systems of today is wired to improve the overall customer loyalty experience with their managed IT services that are tailored to suit your requirements.
More Followers Mean More Prospects
Brands also host a wide array of other opportunities for customers to connect with them, and if you are a brand or business that has recently entered the market, then you are in for a ton of competition. Measures can be taken to stand out from the competition, such as the introduction of new sales dynamics which revolve around combos and discounts.
The Online Retail POS System of today is optimized to automatically input the customer’s information and generally also enrolls the customer for a loyalty program automatically. This is due to its state-of-the-art profiling system that modern retail POS systems uphold. Whether you own a Jewelry store or a liquor store, the jewelry store software can automatically generate discount vouchers for members of the customer loyalty program. This can be based on seasonal festivities, and the liquor store inventory management can simultaneously take care of replenishments accordingly to cater to faithful customers.
How Loyalty Programs Can Make a Difference
Loyalty programs were designed to reinforce the potential of sales that your business upholds. This means that your online Mobile POS System is capable enough to distinguish the birthdays of your customers and provide discounts accordingly. This can also increase the chances of an upsell on a recurring visit as the POS system for inventory control can couple relevant products together. This means you sell out a tripod with a camera as a combo.
A loyal consumer-base can go a long way to secure the future of your business, and loyalty programs can always be personalized to resonate with the dynamics of your business model. This means that your customers can be welcomed with a discount on their first visit or if they decide to sign up for your customer loyalty program. Loyalty programs are also renowned as sophisticated targeting tools when it comes to modern marketing, as the POS systems of today generally fish for consumers by generating automated deals and discounts for customers that have not had a recurring visit in a long time.
Customer Loyalty Programs are recognized to channel and filter your consumer-base while keeping them in the loop throughout the process. NCR Counterpoint does it best with its exclusive Loyalty Program Management module which is designed to cater to the evergrowing needs of the market!