5 Best Practices for Loyalty Success
Customer retention is the key to success in today’s fast market
Loyalty programs continue to change and evolve in all retail industries, and with new and more powerful technology available today, these changes are happening faster than ever before. From upgraded point-of-sale (POS) systems and mobile apps to geo-fencing and beacons, rewarding customers is becoming easier and more targeted.
“It’s about transactional engagement rather than a punch card, and technology is much more sophisticated today with point-of-sale terminals now coming with loyalty ports to allow for individual customer purchase history,” Anton Bakker, CEO and founder of Outsite Networks Inc., told Convenience Store News.
With the data and analytics available today, programs are moving away from a one-size-fits-all approach and instead targeting promotions and offers to a customer’s behavior and purchasing. While many convenience stores started a loyalty program offering cents off on gasoline, incentives are moving into the store as well, which is where profitability lies.
“Many companies are shifting loyalty from the pump to inside the store,” observed Andrew Robbins, president and co-founder of Paytronix. “They are shifting loyalty from the pump to inside because sales in-store for profitability is more important.”
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