The formula for success for any business is to get your customers to make repeat purchases. There are a number of factors involved for getting repeat customers: pricing, quality of products and services, excellent customer service etc. One of the best ways is to reward your customers for their repeat purchases. Here are three
effective customer reward programs you could implement:
Number Of Purchases
This program is based on the number of purchases made by any customer. You could give away a free product or
service to any customer that makes ten or more purchases. To make the program more effective you could require a
set time period that all ten purchases must be made by.
Dollar Amount
You can require a certain dollar amount be spent before the customer receives a reward. Tell customers if they spend over $50 in one month at your web site they get a 50% discount on their next purchase. You could also just reward one customer who spends the most every month with a bigger reward like a vacation.
Points System
Reward customers a point for every one-dollar they spend. Lets say customers can get a free computer for 300 points.
That means customers will spend $300 dollars on your products and services to get enough points to get the free
computer. To push slower selling products or services just offer more points per dollar spent for those particular items.
The kind of rewards you give should depend on what your business can afford. Cheaper rewards could be gift
certificates, coupons, clothes, or movie passes. Expensive rewards could be jewelry, vacations, bed and breakfast gift certificates, electronics or computer equipment.
You may want to invest in a good database program to keep track of your rewards program. I also recommend
contacting a legal professional for advice, set-up and the structure of your rewards program. I hope these ideas I've given you help make your business more successful.
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