The Top 5 Reasons to Implement a Plastic Card Program in Business
The Top 5 Reasons to Implement a Plastic Card Program in BusinessThe plastic card is a powerful sales and promotion tool for UK business owners. Besides credit cards, there are plastic discount cards, plastic membership cards and other types of plastic cards that business owners offer to their customers. Here's some basic information about implementing a plastic card program in your business.
Reason #1: Targeted Campaigns and Promotions
The information your business collects from customers' plastic cards allows you to fine-tune your services and products for specific segments or groups of customers. Although some customers feel that a printed plastic card collects too much information and can potentially compromise their personal data, many other customers welcome these and other types of membership cards because of the "perks," discounts and privileges attached to their use.
Reason #2: Reduced Advertising and Marketing Costs
If you institute a plastic loyalty card or discount card, you're likely to experience reduced advertising and marketing costs because when customers possess such a card, they believe that they receive better deals from you than from competitors who do not offer a card. This encourages them to visit your business without having to be constantly motivated by costly advertising.
Reason #3: Increased Repeat Business
When you have a membership card or other type of card program, you're likely to find an increase in repeat business because the card makes customers feel savvy and special. They perceive that they are receiving benefits and discounts not available to customers who do not have a PVC plastic card from your business.
Reason #4: Improved Feedback and Analytics
While in its simplest form, a custom plastic card for can simply have a unique number on it, more tangible benefits will accrue if the card contains a magnetic strip or barcode. This will enable you to assess the success of sales and promotions and track customers' spending habits.
Reason #5: Increased Customer Retention and Customer Value
According to Fred Reichheld, a highly regarded authority on loyalty-oriented business strategies, if you increase your customer retention rate by just 5%, you stand to gain 75% in customer value. Reichheld cites an array of other benefits, including increasing sales from your existing customer base, identifying problems earlier and improving profitability.
Plastic card programs have proven track records in virtually every market segment in the UK. Why not discover how a low-cost, high-value hard plastic card promotion can help you increase customer loyalty, sales and profits?
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