LOYALTY WORKS FOR BUSINESS
64% of SMEs report that loyalty reward cards have been effective for them, meaning the programme makes more money than it costs to maintain It’s important for business owners to keep in mind that customer loyalty isn’t just for big businesses – a well-designed program can help any size business scale and reach new heights. So, how can a loyalty reward card help your SME?
Repeat customers give, and give. As a small business, your growth opportunities are huge! By providing loyalty programmes, SMEs can not only say thank you but also motivate customers to be their brand ambassadors. They can easily spread the word about a business to their networks, helping SMEs increase their customer base even more.
You can rise above the competition. It can be difficult for SMEs to compete with large brands considering that most have more locations, resources and the ability to offer lower prices. However, a great loyalty reward card is an easy way for SMEs to show their personal side and remain competitive in spaces dominated by big business. It also gives you the edge on your SME competitors who don’t offer similar incentives.
They are remarkably cost effective. Customer loyalty doesn’t cost a fortune, and reward card programmes don’t have to drain a SMEs’ budget. While some companies haemorrhage cash into loyalty programmes, SMEs can easily achieve promising results for very little money. Reward cards also act as a fantastic marketing solution!
Finally, they build lasting and meaningful relationships. When relevant factors are taken into consideration about each customer, such as targeted rewards, relationships are built which increase brand loyalty and of course, make your SME a profit!