THE SHOP

March '20

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38 THE SHOP MARCH 2020 D o you currently reward your customers? If so, how do you do it? Is it effective in producing the results you want? And, if you aren't doing a rewards pro- gram, should you? What companies are there that can help you? In today's business world, rewards points, dollars, cards and programs are so prevalent that they are almost numbing. It seems every store or online site wants you to join some kind of account or loyalty program. I don't know about you, but I get tired of the constant barrage of loyalty programs— often I don't even know if I'm enrolled or have earned any valuable rewards. I remember a few years ago I looked at my wife's keychain and there were at least 10 loyalty program laminated tags hanging from it. As sick as all of us may be of these pro- grams, however, we are also the first to complain if we don't get an extra $1 off of that grocery item or 5 cents off of the fuel we are pumping. So, these programs have actually taught us all at least one thing—if it's something we really want and see the benefits of, then it becomes a big part of our lives. So, again, does your shop offer rewards to your customers? If you are a retail shop, do you have a rewards program where people can build up loyalty points or bucks toward their next purchase? Offering a little extra incentive for cus- tomers to come back to your store sooner than they planned to can mean more sales and also helps build loyalty. Let's face it—if there are two good stores in town selling pretty much the same thing with the same service, who wouldn't go to the one that is giving them an extra $10 off something? Viewed in this manner, a loyalty program 38 THE SHOP MARCH 2020 In today's business world, rewards points, dollars, cards and programs are common, and have been shown to increase customer loyalty. Loyalty programs can earn rewards for everyone. A PLAN FOR PROFIT$ By Josh Poulson

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