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Understanding the fundamentals of a loyalty program is essential, so you can use it to boost revenue and increase customer retention in your business.
They are discounts or specials that are given to regular customers each time they buy a product or service. Using a loyalty card gives you the ability to electronically store loyalty points, track past purchases, and create a personalized experience for your customer.
It shows that you value your customers and it gives your customers a reason to choose you over your competitors. Loyalty card programs cultivate long-term relationships which lead to long-term business, increased customer satisfactions, in-depth consumer research, and increased revenue.
We design and print a variety of plastic loyalty cards to integrate with your loyalty program, some of our most popular options are:
Plastic loyalty cards are a fun way to introduce your customers to products or services that they might not normally try. Once your customers gain enough loyalty points reward their loyalty with a prize or discount. Your rewards can stem from a variety of options like:
Existing customers spend 67% more than new customers.
It costs about 5X more to acquire a customer than to retain an existing one.
81% of consumers agree that loyalty programs make them more likely to continue doing business with a brand.
Compared to first-time shoppers, repeat customers are 9 times more likely to convert.
Increasing customer retention rates by 5% increases profits by 25% to 95%.
75% of consumers believe a loyalty program is part of their relationship with a brand.
There are a variety of different customer loyalty programs available for your company to implement. The five main loyalty programs are a cash back program, tiered program, points program, a fee-based program, and a partnership program.
A Points Program is based off of your customers interacting with your company. The customer will earn points for purchases, visits, interacting on social media, downloading an app, etc. The points are stored and can be exchanged later for goods or services.
In a Tiered Program, the rewards that the customers get offered depends on the tier that they are in. In order to get to the next tier, they must reach a specific achievement.
Cash Back Programs help increase the amount spent per transaction. The whole program centers around the concept, "if you spend X amount of money, you will get Y amount of money back."
In order to be a part of a Fee-Based Program, customers have to pay a specific fee then they are given rewards or incentives that regular customers do not get.
In a Partnership Program, multiple businesses work together to offer rewards and discounts to their customers. This is most commonly represented through a snap offs, combo cards, or pop-out cards.
Need more help? Contact UsThe main purpose of customer loyalty programs is to keep customers coming back because customer retention is a key factor in helping your business grow. Not only do existing customers spend more money, but they also cost less to acquire and are more likely to convert. Increasing your customer retention rates will lead to a boost in long-term revenue and more information about your customers.
These different programs are very similar in the aspect that they all reward their customers for engaging with their company. They differ in the type of customer that is eligible for their program, the way they reward their customers, and what their customers get rewarded for doing.
A VIP Program is an exclusive way to reward your top-revenue generating clients. These programs are usually unpublished to add to the exclusivity of the program.
Rewards Programs are open to all customers and usually only require general contact information to become a member. Customers accrue rewards based on numbers of visits or points earned. This is a great method to acquire new customers and boost sales.
A Loyalty Program offers discounts, specials, points, coupons, or some other reward to encourage repeat business. The rewards are designed to encourage customers to make frequent purchases and to avoid competitors.
Offering combo cards gives you twice the amount of promotional exposure, as there are multiple cards or key tags that can be shared with family, friends, co-workers, and community members. This card and key tag combo is perfect for any business! The dual card aspect makes it is more affordable, easy to use and it can be implemented into your loyalty program!
Need more help? Contact UsYes, it can. We can incorporate a variety of variable data into your loyalty card to create a personalized experience for your customers.
Our professional customers come from every industry imaginable and they rave about the products we created for them.
“Thank you Plastic Printers for delivering a superb design of my new custom shaped business cards and for helping make my event special. Everyone loved the new design and asked where I had them made.”
PGA Head Golf Professional - University of Minnesota Golf Club
“The card is a direct reflection of the quality of our business as reliable, credible and trustworthy. People literally say, "Wow. You don't throw THIS away" when we hand them out."
President - Caster Investment Group
“Every element of these cards were designed to be accurate to 1/1000 of an inch, and I can tell there was no deviation among them, because they're all clear! This is the quality of work I was looking for, something I know I wouldn't have been able to achieve elsewhere.”
CEO & Director of Web Operations - ThinkCode
“Our plastic cards set us apart from the competition! We always have people asking us to provide extra cards for their family. We ordered our plastic card because we wanted something that was different and provided a value other than just simply our contact information.”
President - TransEquitorial Solutions
“The process was quick and easy and our customers love that they are able to use the loyalty cards while buying gift cards.”
Owner - Coffee Bean Plus
