Loyalty: we all seek that quality from others and hopefully value that quality in how we treat others. But what does loyalty mean in regards to running your wireless business?

In the end it means how financially successful you will be. Consider this definition of Brand loyalty: “The degree to which a customer is loyal to a given brand in that they are likely to re-purchase/re-use in the future. The level of loyalty indicates the degree to which a brand is protected form competitors”

If you want to put a figure on that definition then consider the following statistic from “The Loyalty Effect” written by Frederick Reichheld and published by the Harvard Business school press:

"We discovered some years ago that raising customer retention rates by five percentage points could increase the value of an average customer by 25 to 100 percent".

Furthermore Consumer spending is 46% higher with companies that offer loyalty card programs
According to a Loyalty Monitor study by Total Research Corp and Custom Marketing Corp.  Also over 60% of U.S. households said that loyalty card programs were important in their shopping decisions. According to an AC Nielson Survey.

Take a minute or two and apply those numbers to your volume. Working to earn a loyal customer base is not just a good thing to do, it is probably the single biggest opportunity you currently have it increase profit today. Most people have phones already and can buy from any number of sources. You need to create the foundation for loyalty by understanding its value and create a structure within your organization to make that happen.

The foundation for creating a loyal customer base is getting their data in order to market to have future “touches”. It also means giving them something of value that differentiates your store from others. One foundational component in the conversion of a customer to a loyal client is a well organized, high quality loyalty card program.

This creates and immediate impact on the customer in that they received added value immediately and in the future with this card. The quality of the card also adds subliminally to the quality of their buying experience. Furthermore a well though out card also can keep the sales associate on message throughout the sales process.

Additionally, it allows a natural progression for an accessory only buyer to gladly give their data to you in exchange for a small discount, while allowing an organized approach to reaching out to them in the future. Once they receive the benefit your card offers and they place it their wallet there is a much higher likelihood they will specifically choose your store for the next purchase.

Tracpoint Wireless is dedicating to bringing the highest quality and most effective loyalty card possible to the Wireless Industry. To learn more about how to build your very own Loyalty Program click here.