20-20 Insights & Meridian Loyalty Programs

Can Online Loyalty Programs Increase Repeat Purchasing? If you’re an online merchant, or if you have an online element to your overall business, you should consider a web-based loyalty program to increase your revenues through encouraging customers to make repeat purchases. It may seem simple, but it’s surprising how few online retailers actually reward their customers for repeat purchasing. Despite the fact that through registration and purchase analyses they become a vital and informative resource for future product orders/development, a repeat customer is your bread and butter business. Their individual orders may not have as high a value as one-off customers, but over time you’ll see that the yield from these committed brand ambassadors is vital. A small incentive for any purchase shows that you instill value in their custom and by providing loyalty points, the upside is that they will initially want to increase their account value in order to benefit from a discount/free gift, but they will also continue to choose you over your competitors if they feel there is a reason to do so. We all know that it’s cheaper to keep a customer than to attract a new one, so building a real and equally beneficial relationship with them is critical. Gift cards, frequent purchase programs and loyalty point systems are all proven methods of retaining happy customers. Two loyalty programs we have recently incorporated into client sites include 20-20 Insights for Butlers Chocolates and Meridian Loyalty Solutions (http://www.retail-int.com/) for O’Briens’ Wines. In both cases the loyalty program on-site has been integrated with their in-store EPOS system ensuring complete communication between online and offline transactions. The 20-20 Insights loyalty catalyst system is web based and is highly configurable and flexible to suit your specific needs. Meridian uncovers drivers of purchase behavior in your customer base, developing sound strategies, and executing your plan to perfection. If you have any questions about how your eCommerce website could benefit from an online loyalty program, please contact us now to arrange a consultation.

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