Newsagents who understand the economic value of the different customers they serve are better able to attract more of the customers who are most valuable.
This is loyalty marketing 101.
Sadly, not many newsagents understand the value of their customers.
My newsagency software has had loyalty marketing facilities for more than fifteen years yet too few newsagents use its facilities. It’s their loss.
Used properly, the loyalty marketing facilities can generate a bottom line increase in a matter of months. By knowing who are your most valuable customers and rewarding them appropriately there is no doubt of a sales increase.
Running a loyalty program is easy. It’s cheap too if you structure it right.
It can be run individually or collectively if you are in a group.
My recommendation to newsagents is to start individually. This provides excellent learnings which can inform future decisions should you decide to go down the group route.
I’ve worked with jewellers, bike retailers, gift shop owners and newsagents in establishing loyalty programs. While there are plenty of queries, I have found that starting is the best way to learn. You can tweak the program on the run and morph it into what you need once you understand more about how your customer react.
Every business should have a strategy for tracking, managing and rewarding loyalty. Our competitors do. We can to for little or no cost.
It all depends on whether we are professional retailers.
Mark do you have an advice sheet on how to set up and run a Loyalty program for your software ?
Hey Peter … the team at Tower can help with this.
Interesting that they sell online yet blame online for their problems.
Woops, I was posting re the Wooldridges blog post