Retailers! Loyalty schemes are the biggest driver of revenue that you're currently ignoring!

How would you go about adding a further 25% in revenue to the top line of your retail business?

You could:

• Run a marketing campaign generally with sizeable upfront cost and no real guarantee on a return on your investment.
• Start to sell online however this is effectively as time consuming and expensive as setting up a new business.
• Get more revenue from a source who are very much wanting to give it to you, your already loyal customers!

Statistics show that only 10% of independent retailers in the UK are operating a loyalty scheme (Opta Stats) and that those who do are making up to 25% more revenue than those who don't. That's a huge differentiator and maybe the biggest change you could make to your retail business that would directly move the bottom line.

Better than that this revenue typically recurs for up to three years bolstering your business both now and into the future.

What sort of loyalty scheme should you operate? The stats are out there and discounts and points (which are really also discounts!) are by far and away the most prevalent reason for customers to sign up to a loyalty scheme.

And yes there is a view that says that this 25% uplift in revenue will be at a lesser net margin as typically loyalty translates to discounts but think of it this way. From the perspective that a customer spends £300 a year with you would you really not want them to spend £375 per year? Especially if they spend that for three years encouraged by the loyalty discount? Compound that across 100 loyal customers and you're into some serious extra revenue.

Loyalty also turns the anonymous customer into someone who can be marketed to through mailing lists, SMS and anything else they may have opted into giving you a further opportunity to monetise them via your website, mobile channels or social media.

>>> Talk to us about using AirPOS Pay's built in loyalty scheme to capture extra revenue and encourage repeat business in your retail store