While getting a customer in your store for the first time is important, in order for your success in retail, the focus needs to be placed on repeat business. It is 6-7 times more expensive to acquire a new customer than it is to keep one. Customer loyalty programs work well, but most businesses may be getting it wrong. Here are 3 steps for measuring customer loyalty and rewards ideas. Track Customer Purchasing Habits In order to measure the effectiveness of a loyalty program we need to record the number of new customer vs. the number of repeat customers. This is the very basic first step, tracking who is coming in and what they have purchased. The easiest way to obtain this information is through a connected POS system. A connected POS system automatically sets up customer profiles and tracks their purchases every time they return. This helps provide retailers with an insightful analysis of their customer base. Having linked loyalty cards/spending cards also helps in tracking customer purchases. Calculate Important Metrics Simple metrics can help a retailer know whether or not their loyalty program is impacting their customers. Some important metrics to consider:
Employers are constantly looking to find ways to promote employee loyalty in a professional climate of job hoppers and career changers. Employers try everything from nap pods to unlimited vacation to beer in the kitchen. But what do employees really need in order to feel dedicated to an employer? The answer, real purpose. To feel important and connected to organizational goals and to be provided with opportunities to learn and grow outweigh any perk an employer could provide. In short, invest in employees and they will invest in you.
Almost everyone accrues points and miles one way or another. Whether it’s a credit card, an airline program, specific retailers, or an app, customer engagement and rewards elevate the relationships customers form with their vendors of choice. Here are three ways points or miles can help take customer engagement and rewards farther:
Employee travel rewards are common and have been since the days of service crystals and 5- year pins. But the way they are being applied in today’s employee reward environment is changing and evolving. Here are three ways employee travel rewards are changing and can be used to maximize effectiveness.
With the weather getting warmer and gas prices on the decline, more people are thinking about their vehicles. This has AutoZone gearing up for the spring selling season in a big way. In anticipation of their busiest season yet, AutoZone is hiring 10,000 additional employees through April. The leading retailer and distributor of automotive replacement parts and accessories in the United States has shown incredible growth and stability, especially since their recent rebranding and increase in the number of mega-hubs. With over 5,100 locations, AutoZone has also pledged to hire more than 20,000 transitioning service members and military veterans by 2020. Since last year, more than 4,600 current and prior U.S. Military Service Members have already been hired. AutoZone continues to secure its long-time place in the automotive replacement parts market. With most American adults both needing to own and maintain a vehicle as well as the deep affinity many consumers have for fixing and enhancing their own vehicles, AutoZone is the perfect destination for everyone.
The GiftCard Partners name and logo, and other trademarks are trademarks of GiftCard Partners Inc. and may not be used without permission. The names of other companies, products and services are the property of their respective owners.