Frequent Buyers Program
Run A Frequent Buyers Program - Repeat customers are the life blood of many a business. These customers, for various reasons, feel loyal to a product and service.
A Frequent Buyers Program taps into and channels the psychology of this repeat behavior.
To then create frequent and sustained interaction with your product or service over your competitor and to capture traffic patterns, a frequent buyers tool can be an effective device. The more one shops, the more a prescribed programs of benefits occur. This can be anything from the accumulation of points to discounts and incentives based upon performance. These are as simple as a punch or stamp card to quite high tech, using a magnetic swipe card and tracking data.
While they do create a bonding with your business, an individuals participation determines the success of such a program. Some of the best customers might see the program as a bother. Others feel a personal bond.
Great example of a successful Frequent Buyers Program that people have been jumping on the frequent-traveler bandwagon by joining every club that offers rewards for airline flights, car rentals and hotel stays with the hope of cashing in one day and going on the vacation of their dreams. Thousands of points are accumulated each year among businesspeople and tourists.
Here are more examples of Frequent Buyers Programs you could offer:
- Free promotional items for opening up a new membership.
- Free birthday cake, balloons, etc. for special occasions.
- Donations to buyer's favorite charities.
- Personalized service: personal shopping questionnaire, reminders, etc.
- Free shipping or special occasion cards.
- Surprise privileges: Send an un-announced special offer to a good customer who happens to like something new you're carrying (free scented candle, etc.)
- Newsletters published quarterly that make your buyers feel like "family." Sneak previews before offering items to the public.
- Special shopping hours.
- Free gift-wrapping.
- Celebration of store anniversaries with wine and cheese, etc.
- Discounts or special prizes for referring or bringing in friends.
Budget: $300 - $750 monthly