Gift card and loyalty programs have become a fundamental part of a retailer’s ecosystem over the past few decades. Although the additional expense may seem like a financial burden to some, the need to create better customer buying experiences has created a high demand to differentiate your business with these added options.
Benefits of a Loyalty Program
Here are just a few ways your business can benefit from a Loyalty Program:
Acquire New Customers
In a competitive retail landscape, customers are always looking for a reason to sway them and a loyalty program can make the difference between a potential customer choosing your business over your competitors.
Retain Customers
Loyalty programs provide customers with an incentive to come back to earn, redeem and spend.
Bring Back Lost Customers
With a loyalty program you can send reward offers to customers who haven’t been around in a while.
Turn Customers into Advocates
Earning rewards for every purchase gives your customers a positive experience that they will tell others about, influencing them to become a customer too.
Build Better Relationships with your Customers
Loyalty programs provide customer data so you can better understand your customers and provide them with offers that reflect what they want.
Benefits of a Gift Card Program
There are also many great reasons to introduce a Gift Card Program:
Increased Sales
Customers who visit with gift cards will spend 10-30% more than the value of the card they were given. They will also be more inclined to “splurge” and pick the products that aren’t on sale. So not only is there a lift in spend but also a lift in margin for the business.
Increased Traffic
Businesses with gift card programs will see up to 5% more traffic across their customer base.
New Customer Acquisition
Gift cards are often given as a gift by existing customers, which means your one customer just turned into two.
Convenient Gift Giving Solution
Gift card sales are growing at an alarming rate of 20% per annum and has become the most sought after gift for birthdays and holidays.
For many businesses, incurring an additional monthly fee can seem like a burden. At Ackroo we have affordable gift card and loyalty program options for business of all types and sizes. Our gift card and loyalty program includes traditional in-store plastic card options, online gift card options, eGift and mobile gift card and loyalty solutions.
If you are interested in exploring our available options for gift card and loyalty programs or if you would like to book a free 15 minute demo please visit our Contact page.
We look forward to hearing from you!
