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Understanding Reward Programs From The Standpoint Of A Consumer

Oct 17, 2007
Are you a business owner? If you are, you likely take multiple steps to please your customers. You may do this by ensuring that all staff members are pleasant and friendly to do business with. You may also regularly offer sales and discounts on your products or services. Unfortunately, these steps aren't always enough to draw in new customer or even retain the ones in which you already have. If you don't already have a rewards program in place, you are urged to take a close look at them.

As you likely already know, reward programs come in a number of different formats. Two of the most commonly used and benefited from reward programs are those of onetime promotional gifts and loyalty programs. Loyalty programs are designed to increase your return customer count, as consumers are rewarded for repeat purchases. Promotional gifts are designed to reward all customers for doing business with you, both new and old. Generally speaking, if you operate a business in which one or two purchases are made in a years time, like at a car dealership or at a mortgage lending firm, you can benefit the most from promotional gifts. On the other hand, businesses who find it easier to retain repeat customers can benefit the most from loyalty programs.

Although it is nice to hear that reward programs, such as loyalty programs and onetime promotional gifts, can increase your customer base and possibly even your profits, you may be looking for more proof. Of course, you can examine multiple studies or perform your own, but there is a much easier approach for you to take. That approach involves putting yourself in the place of your customers. Examining reward programs from the standpoint of a consumer is one of the best ways to go about seeing just how successful they are and can be for your own business.

Putting yourself in the place of your customer is an approach that actually shouldn't be that difficult. Although you are a business owner yourself, you likely have to make multiple purchases, including purchases for new cars, clothes, food, cleaning supplies, and so forth. What makes you shop at a particular establishment or do business with a particular online retailer? In the past, good customer service was all that was needed, but now you may be surprised with what many consumers are actually willing to put up with just to get a good deal. You will want to take a close look at your own shopping habits. Then, you will want to take a close look at the shopping habits of consumers who have limited financially resources. This is a great way to see the many benefits of reward programs.

One of the many reasons why reward programs, such as promotional gifts and loyalty programs, are so successful is because everyone loves free stuff. Reward programs are ideal for consumers, as it enables them to get a free product for something that they would likely purchase anyways. Unfortunately, this is where many business owners go wrong. Many automatically assume that since consumers would buy their products anyways, there isn't any need for loyalty programs or free promotional gifts. What you need to remember, as a business owner, is that you always have competition. Whether your business operates online, in a storefront location, or both, there is always somewhere else that consumers can go to get the same products.

Since consumers have a wide range of options, when it comes to buying what they need, you need to give consumers a reason to shop with you. There is no better way to do this then with the use of a loyalty program or onetime free promotional gifts. In fact, stop and ask any individual on the street if they would be more likely to do business with you if you had a rewards program in place. There is a good chance that you would receive "yes," as an answer.

As outlined above, reward programs, such as those that involve the giving of promotional gifts or the implementation of loyalty programs, can benefit both consumers and business owners, like you. As long as properly implemented, which is easy with the help out of an outside advertising agency or a promotional gift company, you are likely to see success.
About the Author
The Infinity Incentive Group has a large selection of promotional gifts ideal for all reward programs. Visit the Infinity Incentives website today to see for yourself!
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