How a virtual punch card can reward you customers and keep them coming back for more.

The global nature of today’s commercial environment means that your competitors come not only from around the corner, but from throughout the entire world. That’s why it is more important than ever to separate yourself from all the rest by providing customers with a highly personalized shopping journey. One of the best ways to incentivize your customers and inspire them to keep coming back, either in person or virtually, is through a vibrant, fun, loyalty program that rewards them every time they spend money.

What are loyalty programs?

Everyone likes free things, and loyalty programs have been taking advantage of that well-known fact of human nature for decades. However, until recently this required that people keep track of and carry around a paper card that needed to be stamped each time they spent money at a retail store. Time and time again, customers lost their punch cards and missed out on their benefits. What’s more, remote purchases that took place over the phone or via mail order did not qualify for rewards in most cases.

The virtual punch card saves the day.

Now fast forward to the 21st century when digital payments and mobile phones are the status quo not only for millennial customers, but for almost everyone. Thanks to digital innovations such as modern point of sale systems, the old-school loyalty programs of the past have been replaced with streamlined electronic ones that provide all of the fun and satisfaction with none of the downsides.

Now, that easily misplaced paper punch card has been replaced with an accessible virtual one. Merchant account provider Payanywhere is now offering customers a loyalty program that requires no sign-up or paper card. The program resides in the point of sale software that is provided to all customers in order to assist with streamlining business operations and securely accepting payments.

The advantages don’t stop there. Whereas former rewards programs required a great deal of manual management and attention on the part of your staff, this new model ticks along with little or no effort from you. Whenever a customer makes a purchase, the system automatically adds points to their account that can eventually be redeemed for the discounts of your choice. You can even customize the amount of the discount and the number of points required to receive it with ease in the point of sale system’s payment hub.

The ease of use also extends to the customer. Instead of being in the dark about their rewards points status — as was often the case with paper cards — this updated system allows them to view their progress toward rewards right on their paper or digital receipts. When they have reached their milestone, the system can be configured to send them an email that alerts them to the fact along with a QR code that makes redemption a snap.

The advantages of loyalty programs.

Now that you understand how today’s virtual rewards programs surpass their paper predecessors, you are probably considering incorporating this fun and potentially profitable perk into your marketing scheme. For those who need more motivation, consider the following additional benefits that running a fun loyalty program can bring to you and your customers.

• Keep customers engaged. Every time a buyer is inspired to come back multiple times in person or online to rack up loyalty points, you have the opportunity to deepen your relationship with them. Today’s shoppers want more than a transactional experience; they identify with the brands they love and strive to be part of the team. Multiple exposures to your products and passionate staff will go a long way toward making this happen.
• Gifts lead to brand loyalty. When you incentivize people to buy numerous times by giving a discount or a free gift, your company gains points of its own in a shopper’s estimation. Before long, that person is likely to become an ambassador for your brand who refers family and friends to your store or website.
• Low cost for maximum benefits. Unlike creating and printing paper cards, virtual ones don’t require a major outlay of cash. Even so, you will be able to reap the same rewards of loyalty and ongoing sales.
• Ability to gain insights. Since all purchases are recorded by your POS, you have instant access to the power of its analytics tools to examine and interpret the data. As a result, you can learn from customers’ shopping behaviors and will be able to get even better at tailoring offers to them.

The great news is that incorporating a punch card rewards program into your business is easy. All that is required is to set up your rewards structure, create your digital card, and begin marketing your exciting program to your customers. If you’re still a bit reluctant, remember how you first felt when you heard about virtual payment processing. Then contrast that reaction with how comfortable you now feel with the entire process. Trust us when we tell you that the same thing will happen when you implement a virtual punch card loyalty program.