Retailers are thinking of different ways to get customers in the door and spend more money. Because today’s consumer is smarter and more price conscious than ever, it’s more and more difficult to think of ways to motivate customers to spend more.
One way that you can build consumer loyalty and get customers to spend more money in your store is to reward them for shopping. Whether it’s a super sale or free item, if customers feel like they are getting more value for their money, they will be more inclined to shop.
Here are some marketing tools you can employ to motivate customers with rewards.
- Study your target market. Before you slash your prices in half, you first need to understand what makes your customer tick. Some customers don’t necessarily shop because something is cheap. They may shop at your store because of the good service or the quality of products that you offer. Take customer surveys and find out what your buyers want. If for example, your clients put a premium on service, your rewards program can include starting an elite shopping program that gives them priority access to check out lanes or member’s only sales. It can even be as simple as offering your client a free drink or snack.
- Give free stuff. Who doesn’t love free? The words “Free” and “sale” can generate excitement like no other marketing words can. It doesn’t have to be a big ticket item, but the higher the value of the item, the higher you can set your minimum amount to get the free product. Set aside part of your marketing budget for this. Another option you can do is to get the free stuff from your suppliers. Every now and then, some suppliers may give you an extra crate or box of an order if you meet a minimum order. Pass the savings onto your customers and generate their goodwill.
- Offer buy one get one deals. There’s something about getting something for free. BOTA deals abound, although in reality, you’re really just giving away a 50% discount. Some retailers even do buy one take one half off, which translates to a 25% discount.
- Start a loyalty card. A loyalty card is a great way to profile your customers and at the same time get them to spend more. To get one, they have to give their personal information, which already gives you their information. As they use their card, you can track how they spend their money and what items are fast moving in your store. You can reward points for every dollar spent, so customers are motivated to spend more to rack up more points. The points can be redeemed for free items in the store. Make sure the free stuff is something your customer wants and presents good value for them.
- Reward referrals. This is a strategy credit card companies and gyms do well. For every new customer a person brings in, the person who did the referral is rewarded with a discount, a coupon or more points on their card. It’s a great way to build your customer base and let your existing clients help your business grow.
Try any of these strategies to help boost your sales, retain your
clients and make your business succeed. If you give something to your
customers, they will pay you back with bigger receipts and repeat