May 31, 2013

How To Implement A Customer Loyalty Program

Statistics report the average business spends more money to get a new customer than to sell to an existing one. That's as true for someone selling brand name sunglasses as it is for someone selling generic sunglasses. This is why implementing a customer loyalty program can be just as important as using the right display case for your products.

Here are some great ideas on how to get a customer loyalty program started:

Use A Points System

There is really no need to get complicated. Staying simple is always the best route in business and adopting a points system is the tried and true method for attracting and keeping customers. It works like this: the people who buy more from your sunglasses store earn some type of credit that translates into a final reward. Remember to keep the program simple or you might find the whole thing backfiring on you. If you can afford it, having a swipe card that tracks customer purchases is a great idea that makes the whole process fun and interesting for your clients.

Partner With Another Store

Another suggestion on how to implement a customer loyalty program is partnering with another company as a way to foster customer loyalty and company growth on a large business scale. Offering points and other rewards with a store in the same mall or general location can work well for small business too. What becomes important when you want to try this is to understand the habits of your customers and where they would be likely to shop before or after visiting your store. Doing some research as to their spending habits can be the difference between a positive and negative outcome.

Start up a Game

Everyone loves to have fun while they shop for sunglasses and starting up a game that ties into your product line is great way to attract customers from a wide age group. Maybe two or three purchases of sunglasses and accessories give clients the opportunity to play a game to win a free prize. This is one of the best methods for keeping your company name fresh in people's mind as well.

Customer loyalty is the Holy Grail for most businesses and that is especially true for people selling retail sunglasses. When you are looking at how to implement a customer loyalty program, you need to measure the effectiveness of these programs. Metrics like the customer retention rate are a great way to gauge the number of people that stay with you over any given period of time. Remember, an increase of 5% in customer retention can lead to a large profit increase for your store.

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