Why & How a Point-of-Sale Discount Program Pumps Up Customer Loyalty

apples_to_oranges

Businesses like yours are common in today’s marketplace. No offense, but your members may think of you as “just a bank,” “just a credit union,” or “just a commodity with nothing unique to offer.” Ugh.

If you are viewed as just another _______ [fill in the blank], then you're in a precarious position, subject to the whims of your customers, and an easy target for competitors. All they have to do is offer a slightly better deal or a new value-added benefit, and presto change-o, your potential and current customers are heading in their direction.

 Could you be more than a commodity?

Consumers expect that you are similar to all of the other organizations like yours with similar offerings and similar benefits as the next guy. Thankfully, there’s a way to break this mindset, and stop the commoditization by offering a benefit that sets you far apart.

You guessed it – it’s a point-of-sale discount program that saves your customers big bucks with their favorite merchants!

When you’re helping them save more than $1000 per year AND you’re integrated into their daily routines, they don’t see you as just another ____ [fill in the blank]. They see you as a savvy helper, a trusted advisor, and an integral partner who finds exclusive deals every day just for them.

How does a point-of-sale discount program boost customer loyalty?

  1. Save money on-the-spot! As they go about their daily routines, your customers are already shopping, and 92% of them are using coupons whilst they shop. They like to save money, and you could help them do it by sending discounts at the right time and right place. That way, it feels like you’ve seamlessly integrated into their lives.

  2. Make it easy! People want discounts, but they don’t want to change their behavior. They don’t want to have to remember to use a coupon or swipe a special card. When you send your customers point-of-sale discounts via smartphone alerts, they can immediately use those discounts. They’ll also be encouraged to cash in using their credit or debit card.

  3. Joy in repetition! If you send frequent, timely, relevant perks, your customers will be reminded often of the value you bring to their lives. Customer engagement happens over the days, weeks, and months as you’re sending alerts, perks, and reminders.

  4. Connect with their hearts! Each alert shows your name and logo, and tells your customer to get a deal right now at a nearby merchant. Over time, all of these “touch points” will help you build an emotional connection with your customers.  

When your discount program is done in context and integrated into your customers’ daily routines, they’ll associate all that value with your organization and come to depend on you.

By delivering happiness to your customers every day, you’ll stay at the top of their wallets, minds, and hearts - and that’s what loyalty is all about.

You might also enjoy reading, What Can You Give Customers Today to Ensure Loyalty Tomorrow?

Larky is a mobile loyalty platform that amazes and works to keep members happy and loyal.  To learn more, visit Larky.com or email us at hello@larky.com.

Posted on September 12, 2014 by AndrewB - No Comments

Topics: Financial Institutions, Perks and Discounts, Loyalty