Everywhere you look companies are offering a rewards or rebate program to their customers. So, the question is, have you implemented a rewards program for your customers? If you haven't considered doing so, listed below are a the top five reasons you should consider for doing just that.
Reward programs are designed to grow your business in at least five important ways.
Attract New Customers-Who doesn't like getting something back for a purchase you are going to make? I would say that would include all of us. Therefore, it is easy to see how offering a reward for purchase is incentive enough, in and of itself, to incentivise your potential customers to purchase from you rather than from your competitor. So, what are you waiting for? This reason alone is worth the time and effort it takes to implement a rebate program for your business.
Dispose Inventory-While you are looking at what you can give as a reward for purchase why not consider that overstock you have been wishing you could move? You don't always need to give cash rewards. When you give an extra product it does two things, first it makes your customer happy and second it introduces them to a product they might never have considered purchasing. What that means is that they have a chance to experience another product in your inventory and may even fall in love with it and therefore purchase it in the future.
Increase Sales-As I have already stated in disposing of inventory, trial products can and often do increase sales. If you are a service based business, as I am, you might consider offering a free service or service discount to your customers.
Promote Products- Even your most loyal customers may not be aware of all of your products or services. Merely offering them a reward for purchase might just be enough to get them off the fence and hire you for a project they have been toying with developing.
Build Customer Loyalty-This is what every business owner should strive to accomplish. Customer loyalty is important to your thriving business. You probably already know that the cost of client retention is much less than obtaining a new client. Therefore, building customer loyalty any way you can is just plain good business! When you offer a reward for services or products, your client or customer is more likely to purchase from you over-and-over again.
So, there you have it. Five top reasons to implement a rebate or rewards program for your business.
Ginger Marks is the founder of the DocUmeant Family of Companies, We Make YOU Look GOOD! For more information, visit http://www.documeantdesigns.com/. Her 2012 annual edition of Holiday Marketing Guide, Your business-marketing calendar of ideas is now available at http://www.HolidayMarketingGuide.com.
