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How to Grow a Business with Loyalty

How to grow a business with loyalty, many people feel this has enhanced their business growth. Here’s five types of programs you can offer.

1. A Membership Program:
You will provide special incentives to your members as part of the membership club. Like Costco, Sam’s Club, YMCA or your local fitness club. Some membership clubs could even be a part of your customer retention program, the people who sign-up with you get special offers or privileges.

2. A Reward program
These are perks and gifts that you give that are ‘earned’ according to the amount of business your customers buy from you. Like Airline companies, or any other point system. For example, Chase Bank had one and they just cancelled it, shame on them as some of their customers don’t feel any loyalty to Chase Bank. Gail, who I met for coffee the other day said, the cost of their banking fees were covered by their loyalty program. She had the opportunity to get gift cards and give them away as gifts really helped her.

3. Creating a Community or Tribe
Every human wants to belong, to be a part of something. Like for example when a local sports store sponsors the local running marathon. Or Buy $5 and the store will give $5 to a community group.

4. Add an Affiliate Program
Like using Click-bank, Pay Spree, Commission Junction sign-up and be an affiliate for companies to believe and like. Even Shopping Cart has a program you can use for affiliates. Eventbrite has a payout plan for affiliates to promote and sell your events.

For example two of my favorite services is Green Geeks and sometimes I have affiliate links on my blogs. This is a great way to get their message out and for people like me receive a commission as I am selling their services. This is called being an affiliate.

5. Implement a Frequent Purchase card
Like a coffee card, or when you rent movies every so many you get the 10th one for free. Or a parking card.  There are several Coffee and Tea bars that gift out cards and after 7 or 10 cups of coffee you can redeem your card for a Free coffee. Supercuts have a card, Get 8 haircuts and then your 9th haircut is free.  Starbucks, now just gives you stars when you grab a coffee there. It will give you free food or non-coffee items.

Since I have been going to the same location, I have already received one Free haircut.  Use your imagination.

MLHarris

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