Here’s Why You Need A Modernized Loyalty Card For Your Company
Customer loyalty cards have been a time-tested method to improve profits, gain increased customer loyalty, and also give companies the professional appearance that they need to succeed. As merchant processing companies work to bring quality customer loyalty cards and programs to small businesses, more research begins to pile in on the importance of having a customer loyalty program.
In a recent study done by Accenture Interactive, retailers that have active customer loyalty programs earn more than stores that don’t have them. In fact, a typical member of a customer loyalty program will generate anywhere from 12% to 18% more revenue than a non-member. Many survey takers have mentioned that profits are even higher, suggesting that loyalty cards’ impact varies greatly from industry to industry.
A study done by PaymentWeek also suggests that loyalty cards aren’t what they used to be, either. In order for many companies to get the full return on investment, they often have to upgrade their loyalty programs into highly technological, highly integrated programs that offer a lot more than just an occasional freebie.
Major big box retailers like Amazon and Barnes & Noble now use loyalty programs to offer free shipping and special discounts. Smaller businesses are under increased pressure to offer more perks and more flexibility with their loyalty programs as a result. After all, they still do have to compete with bigger retailers.
Along with better perks, most small businesses are beginning to realize that loyalty card or loyalty club fraud is a problem. Paper punch cards can be easily punched by others to receive free, unearned perks. Even more advanced loyalty clubs can have weaknesses that can be exploited by the right hacker. As a result, both large and small businesses alike are beginning to look towards more modern, fraud-proofed loyalty card programs to ensure loss prevention.
All of these perks have increased the overall price of loyalty club cards. However, that doesn’t mean that they aren’t worth it anymore. On the contrary – due to the exceptional benefits and decreased chances of fraud, modernized loyalty cards offer a higher return on investment than ever before. In other words, a modernized customer loyalty card is worth every single penny, especially if your client base tends to prefer using loyalty cards.
The easiest, fastest, and often cheapest way to get a top rated customer loyalty program is to talk with a merchant processing company about your options. Many high end terminals, such as the ones produced by Clover, offer apps that work as digitized loyalty programs. On the other hand, having an actual plastic loyalty card may be a better option if your company is beginning to evolve into a chain.
No matter what form of loyalty card you choose, it’s crucial to get the right company to help you develop it. For both large and small businesses, the best company to handle loyalty club solutions is Red Payments. No other company offers as many options with as great service.