LoyaltyTrac® General Retail Loyalty ProgramOur loyalty program will benefit your retail establishment by transitioning ordinary customers into loyal brand ambassadors. LoyaltyTrac will positively influence your customer retention, visit frequency, and spend levels at your business while greatly reducing marketing expenses.
What Can I Expect for Results?
LoyaltyTrac will have a beneficial influence on the following metrics:
- Customer Visit Frequency
- Customer Retention Rate
- Average Revenue per Purchase (Size of Basket)
Customer Visit Frequency
Getting existing customers to come back regularly is vital to the survival of your business. LoyaltyTrac can help you retain more customers by using time and behavior based marketing & rewards to entice your members to visit more often.
Customers who have joined your rewards program will visit you more frequently than those who have not. It is not unusual for our clients to see members visit 18-25% more often when compared to non-member customers. And because they come back with a higher frequency, they end up spending more. On an annual basis, a member will outspend a non-member by 8-14%.Customer Retention Rate
Loyalty programs are proven to increase customer retention. By providing your customer members with the opportunity to earn equity in your store (in the form of points & incentives) they are more likely to choose you over your competitors. Because it costs you six times more to attract a new customer than to retain an existing one, preventing defection is key to increasing profits.
In addition to points incentives, the VIP status afforded by a loyalty program builds a strong bond with customers.Average Revenue per Purchase
The marketing & rewards component of your program will keep your business top of mind with your members. With the right messages, sent at the right time, to the right people, you can affect customer visit behavior and purchase patterns in positive (and profitable!) ways. It's proven that points and other incentives are an effective "tipping point" in enticing customers to make a purchase, or to spend more (in the form of additional products/services) on a purchase they were already considering – i.e. increasing the size of basket.
Because your customer members are visiting your establishment more frequently, and they are spending more per visit, they are spending more money with you over time – even if you consider the small discount or points you might be giving them to come in.
Enticing members with points or discounts doesn't have to be a margin-slashing endeavor when you choose the incentives carefully. We work closely with you to determine what benefits and offers will get you the biggest bang for your buck. Bonus Points are an extremely effective, yet very inexpensive, incentive.Other Factors to Consider
It's no secret that customers who visit your store regularly will have a significantly higher pre-disposition to recommend you to their friends and family. That likelihood is only increased when there is a member benefit or reward enticing the customer to do so. Your loyalty club members will become brand ambassadors at a rate that is four times higher than non-members – and that means more customer referrals.
There are proven psychological correlations between offering rewards and predictive customer behavior. Reward the purchase behavior you want to encourage at your business.Email Marketing
Program communications are essential in building a closer, more profitable relationship with your member. Engaging your customer/member on a level other than sales is crucial for building continual customer engagement and retention. LoyaltyTrac is an "Opt-in" program and customers/members agree to receive your communications when they enroll.Why LoyaltyTrac?
Our experience, professionalism and product performance in designing and implementing loyalty initiatives for small and medium sized businesses is unmatched by any other program providers. LoyaltyTrac is the preferred loyalty solution for hundreds of clients in North America.