Website Marketing Club

Loyalty Marketing – The Time Has Never Been Better

Oct 13, 2009 Advertising

It’s no secret that these are tough economic times. The experts keep pushing merchants to save money and not start up new projects. Merchants are being told to cut back and simply wait for the economy to rebound.

My advice? Start spending money — and do it IMMEDIATELY!

Why Increase Spending in a Bad Economy?

When times are tough, people are hungry for value. So while I am not suggesting that you run out and purchase $50,000 worth of equipment for your business, this is a perfect moment to improve your loyalty marketing. Loyalty marketing is one of those techniques that keeps customers returning again and again to their favorite restaurant, grocery store or dry cleaner. They are the types of campaigns that will draw in old customers and attract new ones. You can improve an existing campaign or try a new one. After all, there have been few times in history when there not only is less competitive pressure but also customers desperately seeking a value.

Your Competitors Are Hiding Too

So many merchants have boarded up their doors since the recession began, victims of the economy as well as victims of not creating a plan for tough economic times. However, there are still plenty of merchants hanging on and weathering the recession. If you are just hanging on, don’t spend what little capital left or let go of a valuable employee just to create a loyalty marketing campaign. After all, survival is the most important goal at this time. But if you are a business that already has budgeted for loyalty marketing, this is the ideal time to spread the word that you have something of value to offer your customers.

That Value Message Really Works in Today’s Environment

People may be saving more, but that doesn’t mean they aren’t spending at all. Groceries, gasoline and other essentials are still being purchased. People are still going to restaurants and bars and the movies, albeit less frequently. However, when they do spend, people are looking to save money everywhere they go. This is where you can have the advantage.

Consider increasing your loyalty advertising to let your customers and give them a reason to bypass the competition and buy from you instead. If you don’t have a loyalty program in place, now might be a good time to create one, at least within your existing customer base. During these times, people are always looking for deal, so give them a reason to come to you.

Establish Loyalty Now – The Times Will Be Changing

Nothing lasts forever, and this is true of bad economic times. This is good news, we will prevail! However, that means your competitors who have sat and weathered the storm will be getting out there again and building their own loyal customer base. So why not beat them to the punch and draw in customers when they are desperate for a value? When the economic recovery is here, your loyalty program already will be up and running. Your loyal customer base already will have grown, beating the competition.

Less competitive noise and consumers out there looking for every deal they can find. If you understand that, let your loyalty program work for you. And do it soon.

Tags: Advertising, gift card programs, gift cards, loyalty cards, loyalty marketing, marketing, promotion, Sales