How effective are loyalty cards for small business?
Coupon / loyalty cards work by changing how your customers view the cost-benefit analysis of your products and services.
By giving your customers a discount, the threshold for making the purchase is lowered significantly. As a result, they are more likely to take action. Loyalty cards are a great way to convert new customers and increase traffic from existing clients.
In fact, 95% of customers view coupon cards favorably… That’s better than apple pie’s 81%!!
This directly translates into viewing your business more favorably.
Let’s look at a few ways that loyalty cards can help your small business:
(Open Each Bullet Point for More Information)
Discounts are a great way to get new customers in your door (or on your website). These customers are often well aware of the myriad of options they have in the marketplace, so even a small discount can help push them over the edge to walking in the door. From there, you can convert a single purchase into many.
Often, your existing customer base can fade away. This is called attrition. By offering a loyalty card you can re-engage a connection with these lost customers – and constantly remind them how much you value their business. In their mind, they will continue to support you for this reward.
Loyalty is everything to small business. Both new and existing customers view rewards programs extremely favorably – and it serves as a valuable reminder each time they open their wallet. When they see their discount card, they know that a promotion from your business is listed on the back.
New comers to the biking industry often don’t know how to evaluate the worth of any given product or service. They simply don’t have the experience to know what it should cost. By offering a discount, this automatically reduces the height of the bar for them to make a purchase decision. From there, its much easier to educate them and create a lasting and profitable relationship.
In an increasingly fragmented industry, consumers have many options for where to direct their dollars. By promoting your business with a loyalty card, they are more likely to convert their spend to your business’s bottom line. This can help you stand out from your competition.
Psychology is a funny thing. When a consumer views their purchase as a deal, they’re more likely to spend more and on higher priced items. That means increased profitability for your business and even more opportunities to establish lasting relationships.
Our loyalty card is unique because of its precise targeting to customers that exactly match your Asheville-area biking business.