You often hear the adage that it costs you five times more to obtain a new customer than to retain an existing one – and that is normally where the sage advice ends.
We are frequently asked to provide recommendations for a cloud loyalty and rewards application, that at a very practical level assists in retaining customers and developing long term loyalty.
How has loyalty been done?
Loyalty and rewards have been managed in many ways over the years, but most commonly, one of the first steps undertaken by enthusiastic marketing managers in SMEs over the last ten years has been to get a loyalty card together, and then distribute it as widely as possible. This card helps keep track of the relative rewards, which are generally structured along these lines:
And this is great - let's be clear, it's most definitely better than not doing anything at all! But, a loyalty card is battling against plenty of other cards - including other loyalty and rewards cards. How many of you have either stopped carrying them around because you have too many, or, worse, been kept waiting while the person in front of you hunts through their bulging wallet to get another stamp on their coffee card?
How should loyalty be done?
Let's face it, a card is clumsy. Wouldn't it be far better if the loyalty and rewards information was directly captured during the sale process, without the need for a card? Either an in-store Point of Sale, or through a website eCommerce solution?
That's what Collect does - hence our recommendation to use it for your cloud loyalty and rewards system. Collect integrates deeply with Vend for in-store Point of Sale, and is rumored to soon be supporting Shopify for online eCommerce. All that happens is that we get the Collect system all set up which is quick and hassle free, and then when a customer makes a purchase through Vend, you ask whether they are part of your rewards programme. If they are, great, you just link the sale to their customer account. If not, it takes a minute to get them all loaded and ready to go. Your customers can download an iPhone or Android app to their phone, and view all of their current rewards. Not only that, but they can share the rewards their receive with their Facebook Friends, and you can direct special offers and marketing to them also!
We've had a good look around the system, and we have to say, it's one of the slickest applications we've seen in some time. It takes a problematic but desirable (for both parties) activity, and simplifies it.
We'd love to get you set up and ready to go with Collect, and will be very happy to give you a quick demo to show you how it will work - just get in touch. If you don't have Vend yet, then no worries - we can have a chat about whether it will suit your business at the same time. If you are interested in reading more about Collect, you can do so on their website, but we thought we'd be helpful and include some additional info from them below:
Smart Loyalty for Smart Stores
Collect is a smart, insight based loyalty and rewards solution that helps smart stores connect with customers on the device they use the most, their smartphones. Connect with customers, build relationships, increase revenue and grow your business with Collect.
For your customers, Collect is a free iPhone and Android app, or they can access it via the Member Web Portal. Reach them anywhere, any time, on their smartphones.
Recognize your top customers and understand what products they love to buy.
Your customers have real-time visibility of their points balance and can see how far away they are from unlocking your rewards, encouraging them to keep coming back.
Use this insight to create targeted and personalized offers, sent out as push notifications, that your customers will love.
Incentivize your customers to promote your store. Encourage them to refer friends and share their experiences on social media. It’s your loyalty program
It’s your own customer database, and it’s your own data. Collect keeps your data updated and secure.
Collect’s seamless integration with POS makes it easy to add customers, collect real-time insight, and customize offers and rewards, based on what your customers love to buy. And it’s 100% measurable.