The first customer loyalty program was introduced by airlines in the 1970’s with the “frequent flyer” points program. Since then loyalty and rewards programs have grown with great popularity. Many grocery stores, drug stores, and restaurants offer some type of loyalty program.
According to North American Bancard, loyalty programs build consumer loyalty—even if they offer a savings of no more than 10%. The great thing about loyalty programs, is that they are a marketing tactic that businesses of any size can implement. This could be points programs that adds up to a specified dollar or percentage savings after a set amount of points is earned, additional savings on specific items, or even programs that provide a prize after a designated amount of points is earned.
The benefits of loyalty and rewards programs are many. If they are something you have been considering, the increase in repeat business is well worth the time it takes to get things up and running. Just ensure that you select a merchant account provider that has the technology required to make implementation a breeze.