You care about your loyal customers, and so do we. New customers can be costly and finicky. The people who show up again and again define your business. Reward them because you care—and because there will be benefits.
Our liquor store loyalty program is designed with you in mind. Built with the expertise that comes with years of liquor store experience, this loyalty program is why Cheers POS is right for you.
New Customers Are Expensive
Your regular customers are not hard to convert. It’s the newbies that might not make a purchase when they stop in your liquor store.
New customers come in a few varieties. Some have never heard of you, others have never stopped by, and many more only come in on occasion. We can take care of your casual fans with existing POS programs.
The Costs
But the unawares, they take man-hours and marketing spend you might not have. Basically, new customers require new resources. This can include the need to hire a marketing staff to identify leads, create content, and put you out there.
It also usually requires a sales team to follow up on leads and devote time to convincing consumers you have what they need. These new hires ultimately result in higher costs. Onboarding, work space, and office supplies all equal dollar amounts taking leave from your business.
New business is fantastic in many ways, but it’s more expensive than increased sales from existing business. Preserving loyal customers prevents the need to constantly re-manage the customer lifecycle.
Customer Lifetime Value
Loyalty boosts your business’s customer lifetime value. Customer lifetime value is one of the single most prized metrics in business. Maintaining a high customer lifetime value indicates a great product-market fit and is good news for your bottom line.
This valuable metric means larger margins and larger opportunities for new sales. Developing the trust in your customer base results in steadier cash flow, heightened reinvestment abilities, and—our favorite—profit.
Loyal Customers Are Profitable
Customers tend to purchase more from stores they like and trust. There are many ways to gain your customers’ steadfast support. An effective, quality product is the number one way to gain loyalty. You can do that, no problem.
Great customer service and low barriers to entry are the next most valuable weapons at your disposal. An easy-to-use, fully equipped POS system is a helpful tool in providing service that sells.
At Cheers, we build programs that aid you in fostering positive relationships with everyone who comes through your store. Our latest loyalty program tools will make customer service a breeze.
Taking care of people who take care of you is one of the most fulfilling things you can do in life. Not only is encouraging loyalty financially profitable, it’s emotionally profitable.
The Statistics
Still don’t think customer loyalty is worth the hype? Listen up. Statistics tell us that businesses with an increase in customer retention see huge growth in profit. Depending on how much time you give it, a 5% increase in customer retention can result in growth of anywhere from 25% to 95%.
As we mentioned, your loyal customers spend more than indifferent ones. In fact, your regulars spend 31% more than new customers, and they are 50% more likely to try new products.
Long story short, nurturing loyalty pays. So, let’s talk about how we do that. How do you encourage kids to go to bed? How do you convince dogs to follow commands? With treats, of course.
Rewarding Loyalty Grows It
The best way to retain and increase your loyal customers is to reward them for their consistency. The Cheers POS system is designed to help you recognize and reward your consumers.
Rewards can come in many shapes and sizes. Frequent commerce-based examples include cash back and discounts, but we can also be more creative than that.
Simply being familiar with your regulars and showing you remember them can go a long way. You might say their name, ask how their spouse is, or point them toward their go-to beer. These small gestures reward the customer for returning to your store rather than trying somewhere new.
Personalized experiences are the customer service trend of the future. Many companies use cookies, chatbots, and now artificial intelligence to do this. But there are other ways.
A human touch is always preferable to digital communications. You may already be friendly to everyone who comes in, but offering a friendly and customized experience to your regulars will really knock their socks off.
How can you better customize every customer encounter? It’s not as if you have the memory of a computer! That’s exactly why we have added this liquor store loyalty program to our POS system.
Features
The new loyalty program has many exciting features designed to make customer service easier. You can now swiftly create and save customers during the checkout process. Once you have done this, they will have a client profile you can refer to.
The client profile will store their purchase history, enabling you to learn their habits and tastes with a click.
For example, if you’re trying to make a recommendation to a regular but don’t want to ask questions you’ve asked before, pull up their profile. If a customer really enjoyed the bourbon they bought last Thursday but forgot the name, pull up their profile.
But the opportunities to utilize the client profile don’t stop there.
Our loyalty program also allows you to message individuals, groups, or the entire customer database. You might use this tool to market specials, new arrivals, or popular items.
One of the most exciting features is the ability to offer custom discounts or rewards. You will have control over which managers and cashiers can access this feature.
The flexible rewards program will enable you to determine who receives what. This means you can easily customize the offers and discounts each customer receives. Over time, the client profiles will accumulate into large amounts of data.
The resulting customer insights will be incredibly valuable. Decisions around marketing and purchasing will be vastly more informed and accurate. Effective use of our loyalty program features can develop into opportunities for large revenue increases.
Increase Customer Loyalty Today
We would never discount the benefits of new customer acquisition, but it is no secret that new patrons can be very expensive. Loyal customers are much more cost-effective. They spend more, and they spend often.
Loyalty can be challenging to obtain. Local businesses are having a harder time than ever as a result of online shopping and retail giants. The best way to earn loyalty is to reward it. Cheers POS system is designed for exactly that.
Still on the fence about our liquor store loyalty program? Request a demo or shoot us a question. We are committed to thoroughly educating and equipping liquor stores with the tools for success. If you’re thinking of pulling the trigger, get a quote.
Cheers POS system is a simple all-in-one solution. The new loyalty program is just one aspect of what we provide, and we are happy to show you more.