Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Reward Customers and Watch Your Business Grow

By Richard Wilkins Subscribe to RSS | May 26th 2012 | Views:
loading
 
  



Reward card programs come in many different forms but all have the same objective – customer retention. With so much competition in every marketplace, holding onto valued customers is a must. Learning how to effectively start up a reward program from the outset is vitally important. Tweaking the formula whilst already live may confuse your customers - people generally do not like change. So what are the most effective programs?

Some businesses offer what is known as a continuous reinforcement reward like “free shipping with every order” or “5% discount on orders over $100”. This type of reward card program is normally well received, as the customer knows exactly where they stand without having to read the small print. Another popular reward program is known as ratio rewards, based on repetition. This is commonly used by food chains as it encourages customers to keep coming back to eventually get a free meal. For example, Nando’s restaurant will stamp a customers reward card every time they eat in one of their establishments and then depending on how much is spent, the next time a customer returns, they will be entitled to either a free drink or free food.

Interval rewards are based on time. This reward program can vary from a store's annual sale to a daily lunch special from 11 a.m. to 2 p.m. The variable version includes radio contests that grant prizes "sometime this hour." You don't know exactly when, but basically it's every hour. And of course the most common and one we all utilize the most is “Happy Hour”, with bars offering drinks 2 for 1 or half price at various times of the week.

Finally and perhaps becoming the most commonly used reward program is a points card system. Here, points (or something similar) are accrued, then traded for goods. Most of the large supermarkets now have these types of card and are a great customer retention tool. A points card exhibits traits similar to fixed ratio rewards, though rewards can vary based on the number of points used. Because a customer can buy different rewards based on varying number of points, there's always the potential of getting a reward.

So for any business thinking of starting a reward card program, although the end goal will always be customer retention, how it’s achieved will vary. Thought must go into what type of customers a business attracts, how regularly they will use a service and if the reward program ended, would the customer still return.

Richard Wilkins - About Author:
The author has an immense knowledge on rewards cards program. Know more about customer rewards related info in his website.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/reward-customers-and-watch-your-business-grow.htm

Related Business Articles Subscribe to RSS

Time and processing required for Hong Kong quality migrant program
Published by Abhinav on March 11th 2012 | Business
Overall the Hong Kong quality migrant application process is very trying and application processing ...
 
Loral Langemeier Millionaire Maker program and its tools
Published by Socialmea on December 2nd 2011 | Business
So you have decided to take advantage of the Loral Langemeier Millionaire Maker program and its tool...
 
Satisfy your financial need with SSI Disability program
Published by Safinajones on April 4th 2012 | Business
Know the difference between SSI Disability benefits and the SSDI benefits. Call Social Security Admi...
 
The Affiliate program is Booming in Seattle Limousine Business
Published by Jeo Spelman on February 28th 2012 | Business
For bigger companies, affiliate programs avail them an opportunity to amplify their earning potentia...
 
How to make employee id badges or employee identification cards for your company?
Published by Angie Turner on May 25th 2012 | Business
When a tiny to average sized business is being set up and the number of employees begins to grow,...
 
2-Factor ADFS as well as other Crucial Functions of ADFS Complementary Software program
Published by Darrell Fore on August 14th 2012 | Business
Many business organizations can make use of multiple authentication methods with their ADFS implemen...
 
How good SEO can boost your website marketing program, seo services
Published by Seolncr on March 5th 2012 | Business
If you are building a website for your company you want it to stand out, to be at the top of search ...
 
Social security is a social welfare program to provide financial welfares
Published by Thessadvo on April 16th 2012 | Business
Social security is defined as a social welfare program supplying social security or security against...
 
Electricity choice in Illinois: through Power4Schools program
Published by Jordan Adam on February 27th 2012 | Business
The Power4Schools Electric Program, is an innovative electricity management program that supports el...
 
Benefits of corporate wellness program
Published by Morganmoran on April 25th 2012 | Business
Corporate wellness program helps to improve health of employee by maintaning their daily routine. Th...
 
Baby cards print design Selection Online
Published by Andreas Roller on March 30th 2012 | Business
It is a great feeling to welcome the baby child into the family, and so we don’t leave any space t...
 
The usage of Extra Federation Service Software program for Auditing ADFS
Published by Darrell Fore on August 14th 2012 | Business
The use of complementary application or solution for federation service has turn out to be a trend o...
 
Make Attractive Wedding cards
Published by Andreas Roller on March 30th 2012 | Business
The best way to show the married couple, how much you care for them and how much they mean to you, i...