The impact customer loyalty schemes have on brand sales cannot be overstated. It’s then, perhaps, somewhat unsurprising that businesses and brands across a breadth of different sectors choose to invest a notable portion of their marketing budget building and maintaining customer loyalty programs – after all, retaining those customers who consistently put their hands in their pockets and invest in your brand is central to inflating revenue.
Such is the success of loyalty programs, they are evolving to meet growing consumer expectations. In 2019, it’s not unrealistic to say that customers expect to be rewarded for spending their hard- earned cash with a specific brand.
Moreover, consumers are attracted to, and actively seek, a tailored, personal service from those brands they admire. This results in retailers and brands investing sophisticated, multi-channel customer loyal programs.
From targeted point of sale (Pos) activities, such as promotional receipt OCR, to considered online promotion, brands are becoming savvy in the ways they market themselves to customers.
Interested in learning of the ways that you can engage customers and incentivize them to make purchases, whilst instilling confidence? Keep reading below and discover a multi-channel approach to customer loyalty.
Rewarding Customers Should Be Easy
Regardless of how customers pay for purchases, they expect to be rewarded. The rise of mobile payment and digital wallet services, such as receipt scanning API, has seen retailers design flexible customer loyalty programs. This allows customers to be rewarded for their continued loyalty with ease.
Whether transactions are completed with cards, cash, or Apple Pay, multi-channel customer loyalty programs allow brands to increase customer engagement and satisfaction, broaden customer demographic, and grow their customer bases.
Receipt OCR scanning is a great way that brands can increase customer engagement and authority. According to ICPL, 24% of customers noted that the ability to send receipts via email would encourage them to shop more often at a retailer. At first glance, 24% may not seem like a mesmerizing percentage, but which business would turn down a 24% revenue increase?
Load-to-card programs present brands with another opportunity to drive sales and track purchase records on their goods across multiple retailers. Indeed, some load-to-card programs offer consumers multi-week promotions across different brands, giving consumers an optimal opportunity to take advantage of all promotions and discounts.
Increase Product-Specific Sales
One of the tangible ways that brands can use customer loyalty rewards to great effect is by leveraging product portfolios to run product-specific sales promotions. Combining product category, inventory, fulfillment and payment methods, using receipt OCR, for example, brands can identify valuable customers and run targeted promotions.
This has a two-fold benefit. Firstly, brands can reward customers for their loyalty. Secondly, brands can increase sales on top-performing or profitable product lines. Brand awareness is paramount in today’s modern commercial age. Enhance consumer perception and trust and you will increase revenue.
Drive More Spend by Upselling
In addition to rewarding customers for their loyalty, it’s paramount that brands incentivize them to keep coming back and spending more. This is achieved through a mutually beneficial business-consumer relationship.
Adding more perks, such as member-only coupons will further motivate consumers to make purchases. Why? They feel special – and rewarded. You could use social media platforms to promote coupons, or even use mobile devices with receipt scanning API to appeal to consumers directly.
Bonus point promotions are a great way to entice consumers to spend more. Employed by a wealth of retail businesses to great effect, bonus point promotions offer increased rewards for increased spend. This promotional strategy encourages loyalty, and a higher spend.
Those brands that successfully implement a commercial strategy that’s focused on rewarding customers will increase customer retention rates. This will promote sustained success and provide the edge in competitive markets.
These are but a few of the ways of how multi-channel loyalty schemes can bolster brand sales and authority across a wealth of different marketplaces. But what’s certain is that using receipt OCR to run targeted customer loyalty campaigns will yield great commercial results – and increase revenue.