Online Listings

Loyalty Programs Beneficial to SMBs

By | 07.23.15

Loyalty Programs Beneficial to SMBs

These days, it seems like virtually every business has a discount or rewards program. No longer just reserved for the big box stores and large businesses, small businesses are now getting into the loyalty program game. In fact, according to a recent report by BIA/Kelsey, 29 percent of SMBs offer some type of program and the number is even higher for retailers. Highlights from the report follow:

  • 94 percent are running their programs in-house as opposed to using a loyalty program platform or app
  • 64 percent are still using a paper format
  • SMBs use their loyalty programs like larger businesses—to track customer behavior and to encourage repeat business
  • 68 percent offer rebates and credits as part of the program while a smaller amount offer points, contests and donations
  • A large majority of SMB loyalty programs offer prepaid and discount offers
  • SMBs surveyed predict that 37 percent of future business will be the result of a loyalty program

In conclusion, loyalty programs are a great way to learn more about customers while providing incentives for repeat business. Therefore, SMBs would be wise to add one to their marketing mix.

BIA/Kelsey clients can access the full report here.

Reference:

Marshall, Steve. “BIA/Kelsey Data: Are Loyalty Programs SMBs’ Best Friend?” Blog.biakelsey.com. 6/11/2015.

(Visited 34 times, 1 visits today)
Share on: Share to Facebook Share to Twitter Share to LinkedIn
Comments

Like what you see?
Get more free content.

Next Up In Online Listings

Habits That Make Your Google My Business Listing More Effective

Google My Business

Habits That Make Your Google My Business Listing More Effective

If you’re running a business, your success depends on customers finding you. Having a clean, crisp website helps, but...

Read More

After COVID, an Up-to-Date Google My Business Listing is Crucial

COVID-19

After COVID, an Up-to-Date Google My Business Listing is Crucial

We know that when COVID-19 struck, many hard-working people were met with days of struggle, including small business owners....

Read More

Thryv’s New Business Scan Scores Your Customers’ Online Experience

Back Office

Thryv’s New Business Scan Scores Your Customers’ Online Experience

What do customers and prospects think about their online experience with your business? We’ve developed a free do-it-yourself business...

Read More