In a tough economic climate many families are looking for every extra way possible to save money and in this type of climate store cards have become increasingly popular. Designed as a way to increase repeat visits and to save money for customers, store card are generally a mutually beneficial arrangement between a store owner and clients which helps to benefit both parties.
Store cards are designed as a type of membership card which people can sign-up to for a store that they perhaps frequent regularly. Once a store card has been issued the customer can then receive exclusive members-only benefits and promotions in addition to being able to collate points every time they make a purchase which they can put towards a purchase or redeem for a prize when they have collected enough.
What is the purpose of a store card?
For a business a store card is a great way to encourage customers to keep coming back to your store, and even if you are offering a product at the same price as your competitor, issuing a store card which offers cash-back, points or various other benefits can often be all you need to get that customer over the line and make them choose your store over your competitor.
Store cards are designed to fit neatly into your wallet and therefore it isn’t a pain to carry them around – you carry them in the same way you would a credit or bank card – and therefore in most situations you will barely even notice the addition to your wallet. Except of course when you go to redeem your points or claim your cash-back offers and you can see where the real benefits of a store card can come in.
What additional benefits can a store card bring to my business?
In terms of using store cards as a business tool there is a number of benefits that they can offer to new and existing businesses. These benefits include:
- Increased retention of customers
- The ability to offer members-only discounts
- The ability to collate customer information and tailor marketing plans
- The ability to use e-mail and mail marketing to your customers.