This sounds like a silly question, but ask yourself: how critical are your most loyal customers?
You’re probably laughing to yourself at how absurd that question is—of course your most loyal customers are extremely critical to your business. You couldn’t get by without them.
But go beyond that initial response for a minute and really think about what those customers bring to your business. Think about the customer who comes in regularly and buys the same thing, every time—and now imagine that person comes in on the weekend, or every weekday. How much of a lift does that give your business? One Portland, Oregon coffee shop figured that out with their “$5.35 guy,” and the answers were eye-opening: Even if he only came in once every weekday he’d be spending $1,337.50 a year!
One key to attracting and retaining more of these “$5.35 guys (or girls)” is to create a rewards program that keeps them coming back for more—more often. Here are some stats to consider about why a customer rewards program is crucial to your bottom line:
The bottom line? Get to know your customers and understand your audience. A big city feel to your establishment might not work in a down home country setting, and vice versa. Once you understand your audience, you can tailor your rewards program to make sure your store is always their first choice.
It might be time to start thinking outside the box for your rewards program. Make it easier for your customers to cash in rewards points—for example, instead of 10 visits to get a whole sub, maybe add an option get a half sub after 5 visits. And if your loyal customers can spread the word about your business online, make sure you give them an extra incentive to do so, like a free small cup of coffee every time they share a video on their social networks.
Personalization ties into everything else mentioned. Customers want to be more than just a number—they want to feel like they’re valued by your store. Your rewards program should recognize their preferences, like their most common order from your store, and remember important events like their birthday. These are simple ways to make a rewards program feel customized for each and every customer.
The days of a customer rewards card are coming to a close. Consumers expect their rewards program to be as easy and intuitive as possible, and that usually means an app that holds all their information and keeps them informed about special deals or sales happening in your store. Clover Rewards, a free app available to all Clover merchants, checks customers in whenever they enter your store over Bluetooth, sends rewards on their birthday, and allows you to customize perks and bonuses for your regular customers and VIPs.