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Hi! This is Jeff with
Phoenix Information Systems and I hope that your business is booming. I bet that no matter what level your business is at currently, you would love to see it grow, enjoy higher profit, and more specifically have all the things that come with greater success.
If you are like me, our personal success is tied closely to our business and seeking a higher return in the business part of our lives helps us achieve higher income on the personal side. So naturally we should look at every avenue to help our business succeed.
There is a strategy out there that large and small companies alike have been using to keep their customers coming back time-and-time again. You know it as “Customer Reward Programs”. These programs reach into many areas of business including grocery, retail store, rental, and the financial (credit card) industries. You may have heard some of their slogans: earn cash rewards, we give you cash back, and earn 2% on your purchases.
You may ask yourself, “Why do these reward systems work?” It is one I have asked my self. I believe that these reward systems work because, we as humans, react to positive stimulation. And for that matter negative stimulation as well. Put simply, people like to be rewarded.
I believe that the large companies have discovered that by creating some type of reward system and getting the message in front of their clients at every opportunity, their customer retention and repeat business increased dramatically. They put their message in their advertising, in signage in the business, and on each receipt.
You and I are in a good position because we can let the big companies spend their money figuring out what works and what doesn’t work. Then we can duplicate their successes in our business.
You might say, “It won’t work for my customers.” How do you figure? People are people and big business has spent millions, if not billions, figuring out how people behave and react. I don’t know about you, but I like getting rewards for using my credit card, or for shopping at a particular store.
So if we are to make a rewards program work in our business, I believe we need to get the message in front of the customer as often as possible and keep the expense down to an absolute minimum.
The first place to start is in your business. This is where signage comes in handy. Rather than having some makeshift sign you hand wrote or printed on your computer, I feel a professional looking piece that is big and bold will serve a better purpose. There are several quick sign places that will do your work in 24-hours at a great price.
The one thing to remember is that your clients need to see this sign each time they visit, so make it big, have it behind the counter area so when they check out they read it each time.
The second place you need your message is on your customer’s receipt. It should tell them how many points they have, how close they are to a reward, or give them some indication of where they are at in the rewards system. You can’t go to the grocery store any more and not see
three inches of rewards and savings information at the bottom of your receipt. Remember, there is a reason the big guys do this, so you should try it as well.
The third place you can send your message is in your advertising. You can’t see a Discover Card commercial with out hearing or seeing the message about their cash back rewards. So if you advertise, send your rewards program message out with it.
While we are talking about the rewards message, you may be wondering what the best message is. I am sure it may be different for each situation; however, I have found that there is a common theme amongst the big companies. Their message seems to be a percentage back. Like, “We give you 3% back”, or “We donate 1.5% of our sales to …”. Have you noticed that?
Now that’s not to say there are not other great messages, like buy 4 of these items and get the 5th free. It’s just a something I have noticed that a percentage payback seems to be a common theme.
The fourth place you need to get your message across is in your employees. Your team is worth gold and the more you invest in them, I feel the better the return for you. So train your employees about your reward program, or anything new for that matter. Test your team on the program as well. In fact, hire a secret shopper that can report back to you their experience in your business.
I am sure there are other areas that you could use to implement your rewards program but this should get you started. One other thing to think about when you implement your rewards program is that you need an automated system in place to handle all the tracking.
For retailers in the video industry, Phoenix for Windows Version 10 has a built in rewards system that will take all the work out of your hands. It is easy to setup and you can start using the system in minutes.
To learn more about the Reward Program in Phoenix visit the link below:
http://www.completesoft.com/vs-phoenix-v10-0-upgrade.htm
In conclusion, there is a reason why reward programs work to increase business. The big companies have figured this out and you and I can take advantage of their time and money spent on developing the idea.
You work hard in your business and you owe it to yourself to look into a rewards program for your business. Give us a call at (800) 922-4556. We look forward to helping you achieve extraordinary results in your business.
To your continued success,
Jeffrey William Cameron
Phoenix Information Systems, LLC
Salem, Oregon USA
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