For any trading company that strives to be effective and competitive in the market, its customer always comes first. New marketing tools are constantly being developed and introduced to attract his attention and increase sales, thus, the company’s profits. One of the most popular recently is membership and loyalty cards. They help to expand the client audience and improve the brand loyalty of existing customers.
Benefits of Loyalty Programs
Merchant companies issue membership and loyalty cards to their customers to achieve the following objectives:
- to make the customer more loyal to the brand. Having a loyalty card motivates to make repeat purchases from the same outlet;
- increase sales volume. Customers are more likely to go to those shops that treat them more loyal and provide additional bonuses;
- increase the average check. A customer with a membership card makes more purchases at one time by an average of 40%;
- make the brand more recognizable. Satisfied customers share their positive wholesale co-operation with the outlet with their family and friends, recommend the brand or its products;
- make the brand more competitive. If you implement a loyalty program and develop it in the right direction, you can identify your competitors and increase your market share;
- reduce the cost of finding new customers. Working properly with your existing customer base can save resources on lead generation by increasing the average check and brand awareness.
Loyalty cards are a very effective tool that helps to reduce customer churn, attract new customers and improve communication with them. But as practice shows, most retailers use loyalty programs with standard cards with limited functionality, developed based on outdated technology. Wallester offers an innovative Co-brand Solution that will help increase any loyalty program’s effectiveness.
Loyalty cards help build long-term customer relationships by providing discounts, bonuses and special offers. But standard loyalty cards are “yesterday’s day”. Wallester offers an innovative Payment Card Solution that significantly expands the functionality of conventional loyalty cards. With Wallester, merchants can issue virtual and physical Visa loyalty cards, which can be used not only as a discount card but also as a means of payment.
The peculiarity of such cards is that not only prepayments can be made on them, but also a credit limit can be set. The number of the loyalty program participant is indicated on the plastic carrier itself or is stitched on a special chip. Visa BIN will identify the cardholder. White-Label Card Issuing is also available through the Wallester platform, and loyalty cards and the company’s mobile application will have a unique corporate design.
Advantages of Loyalty Cards From Wallester
Having received a classic loyalty card, the client uses it only on the next visit to a retail outlet to get a discount or participate in a promotion. In other outlets, it is useless and no longer useful for other purposes. When Card Issuing is launched through the Wallester platform, the customer receives a discount or bonus card and a full-fledged means of payment, which can be used to safely and quickly pay for purchases even in an online shop. Let us also list other advantages of this card solution:
- cards can be tokenized so that they can be connected to mobile payment systems Apple Pay, Fitbit Pay, Google Pay, etc.;
- cards are easy to manage, set transaction and spending limits, set expiry dates and re-issue;
- all card transactions go through a spending assessment system, which minimizes the likelihood of fraud and ensures that the purchase meets the company’s criteria;
- after a successful transaction, the client receives a notification about it via SMS or REST API, depending on the settings. Notifications come in real-time.
Membership and loyalty cards issued through the Wallester platform are a full-fledged payment instrument that helps the customer to make profitable purchases and the trading company to achieve the goals set for the loyalty program.