Frequent Buyer Programs
Frequent Buyer Programs
My supermarket has made me a very loyal customer—not because I'm so enamored of their freshness, selection, or prices (all of which are decent but not very different from the competition—but because the store makes it worth my while to shop there. It rewards my patronage in two ways:
1) If the cashier scans my customer card (conveniently placed on a small strip that goes on my key ring), I get "members-only" discounts on various products (don't even need to clip coupons).
2) When I pay with the store's own MasterCard, I get two frequent flier miles for every dollar I spend (one mile for purchases made elsewhere).
These two programs provide a significant incentive for me to shop there—and I spend several thousand dollars a year there as a result.
Many other stores in my town—pizza shops, cafes, bookstores, movie houses—offer some sort of frequent buyer program. Most of them punch a card and give you a free item when you reach ten or twelve punches. One store averages the ten highest purchases over $10, and gives a credit for that amount—a policy that definitely encourages higher spending!
Airlines were among the first to develop frequent-buyer programs. But many other businesses have joined in. And why not? If ever there was a win-win scenario, it's rewarding customers who patronize you frequently. You get far more business with essentially no marketing outlay, and they get a discount.
If you've got a particularly innovative frequent buyer program, drop me a line and tell me about it.
Frequent Buyer Programs - To learn more about this author, visit Shel Horowitz's Website.
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Reward your customers for coming back again and again.
My supermarket has made me a very loyal customer—not because I'm so enamored of their freshness, selection, or prices (all of which are decent but not very different from the competition—but because the store makes it worth my while to shop there. It rewards my patronage in two ways:
1) If the cashier scans my customer card (conveniently placed on a small strip that goes on my key ring), I get "members-only" discounts on various products (don't even need to clip coupons).
2) When I pay with the store's own MasterCard, I get two frequent flier miles for every dollar I spend (one mile for purchases made elsewhere).
These two programs provide a significant incentive for me to shop there—and I spend several thousand dollars a year there as a result.
Many other stores in my town—pizza shops, cafes, bookstores, movie houses—offer some sort of frequent buyer program. Most of them punch a card and give you a free item when you reach ten or twelve punches. One store averages the ten highest purchases over $10, and gives a credit for that amount—a policy that definitely encourages higher spending!
Airlines were among the first to develop frequent-buyer programs. But many other businesses have joined in. And why not? If ever there was a win-win scenario, it's rewarding customers who patronize you frequently. You get far more business with essentially no marketing outlay, and they get a discount.
If you've got a particularly innovative frequent buyer program, drop me a line and tell me about it.
Frequent Buyer Programs - To learn more about this author, visit Shel Horowitz's Website.
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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