Adding fuel to the fire, Generation Z shoppers are building influence and spending power, and they are notoriously not brand-loyal, forcing merchants to search for strategies that will minimize customer churn.
The solutions they’re looking for to help build customer loyalty won’t just have core point of sale (POS) functionality. Merchants need a loyalty strategy supported by the features and data a loyalty solution provides.
Help Your Clients Weather the Storm with Loyalty Solutions
Loyalty solutions enable your clients to:
- Design cards and key tags with their logos to keep their brands top of mind
- Brand their businesses through a mobile app or e-commerce portal
- Integrate loyalty with the POS system for easy management and fast, efficient customer experiences
- Reward customers with discounts, incentives, and points they can redeem for merchandise
- Use gift cards as rewards
- Develop comprehensive marketing plans based on loyalty solution and POS data
- Influence buying decisions by sending relevant offers or encouraging absentee customers to return for special promotions
The right loyalty solution will also enable your clients to collect data on each customers’ behaviors and preferences to personalize experiences and continually improve the effectiveness of their loyalty programs.
Furthermore, this insight can help merchants understand their markets better. They may be relying on national or global data to guide their decisions about the merchandise or services to provide, but what their customers want and need may differ from industry norms. A loyalty solution can provide answers to how they can best serve their unique customer base.
Ultimately, a loyalty solution can be the key to substantial business benefits. Loyalty solutions provider Clutch reports that loyalty members spend 26 percent more annually than non-loyalty-member customers. Loyalty solutions also increase purchase frequency by 10 percent and average orders by 15 percent and improve engagement by 25 percent.
A Strategy for Increasing Your Own Business’ Loyalty
In addition to meeting a prevalent demand in your market, selling loyalty solutions can also contribute to your own business growth. It’s a value-added service you can provide to build a new revenue center while providing greater convenience for your customers. It’s another step you can take to establish your business as a one-stop shop for all of your clients’ technology needs — eliminating the need for them to work with different providers or vendors.
Providing loyalty solutions can also help you build sticky, long-term relationships based on your ability to address your clients’ pain points. Giving your clients the tools they need to increase loyalty, along with the benefit of your expert advice and know-how, can help you justify your place in the ecosystem as a trusted advisor.
A POS system alone won’t enable your clients to compete for their customers’ loyalty. Make sure you provide the solutions that can.