Have you ever wondered why some big-box stores and national chains give you a free $5 or $10 gift card with purchase if you spend more than a specified amount? It’s because consumers consistently spend more than enough to make the gift card redemption profitable for the business, even though they are giving away money payday loans up front.
So, why not take a page from the big boys to boost your startup’s sales?
Better yet, why not roll out a customer loyalty program that incorporates this concept, so you can forget about tactics like designing, printing and mailing coupons?
Loyalty programs that incorporate this concept into their rewards can be very profitable.
Here’s a fun example that combines several aspects of what makes a loyalty program successful:
Let’s say your company sponsors an event, such as a local baseball game. You could have the announcer say, “Text 888-555-1212 to get a free $5 credit toward pizza at Joe’s Pizza this month.