Larington multi merchant rewards clubs offer you:
- A stronger rewards program by you to increase your customers' satisfaction
- e-commerce enabled; customers will find you on their phones
- a mass communication broadcast for you every weekend
A new way to keep in touch with your community, offer them more ways to order online, and sharpen your competitiveness.
Loyalty rewards are essentially discounts offered to customers under the condition that they can only be spent in future purchases. Every time you make a sale, you have the option to give back a small part of the sale value (1% or 2%) in the form of points.
Think of it as a targeted advertising expense, aimed to enhance the emotional bond between you and your customers. The 1% you give away, will be earned back in the form of increased sales. In this case if your top line increases by 5% at a 30% gross margin, you have increased your profits!
Larington lets you offer these rewards to other merchants of your choosing, and begin a deeper emotional bond with customers as they take back with them the ability you gave them to enjoy some value in other places.
You maintain an open channel of communication that lets you contact your customers again as you have new items to sell.
Larington monitors all points issuances and maintains a balance for merchants to be paid when accepting points.
Why are rewards better than discounts?
The reward value of 1% or 2% would make a very small discount. In addition, you would loose the connection with the customer and the opportunity to start building a relationship of good transactions. Rewards help you be remembered by customers in the future.
Consumers like doing something good every day for themselves, and being financially responsible is a perfect example. If you give them some reward points, this will create a positive emotional effect and strengthen your relationship, even if the value of that reward is small.
In certain markets, the selling price needs to be fixed, either by brand restrictions on resale, or to avoid signaling price competition. Reward discounts are a perfect way to give back in cases like this.
How does Larington work?
After you sign up, you can pick a name for your club, (ex. Value Shopper's Club) and provide your basic information.
You will be able to download and print signs to advertise you club on your window.
The next step is to enlist other merchants. It is important to have a number of spending and earning options in your club, but it is up to you to decide how many are enough.
You can sign up other merchants by their e-mail. Each merchant will see the club and issue points to the same customers or add new ones.
Larington lets you sign up your customers by simply typing in their e-mail address or cellphone. All of the points you award to them will be linked to their e-mail address or cellphone. Customers will then be asked to set a password in order to spend their points at a later time.