If your business is in the manufacturing industry, you may have noticed the difficulties that come with customer retention. Price and product offerings are typically the deciding factors many retailers look at when considering buying from manufacturers. While having competitive prices and providing quality products is important, there are other methods you can use to maintain and grow your loyal customer base.
Rewarding the retailers who purchase your products could be the key to keeping your current business and earning new retailers. Let’s discuss some of the ways loyalty programs work for manufacturers.
Why loyalty programs work for manufacturers
Whenever there is an opportunity for a customer to make a repeat purchase, there is an opportunity to incorporate a loyalty program. You want your retailers to continue purchasing your products over other manufacturers. Get the competitive edge over similar manufacturers by giving your retailers a reason to keep choosing your business. Reward businesses who purchase your products and show them that there is potential to earn something or to save on their purchases from your business.
You have complete control over what rewards you choose to offer. You could offer additional products, new product samples, discounts on their most frequently purchased products or other incentives that make your brand stand out among the competition. Sometimes all it takes is a seemingly small reward to win over a repeat customer.
Once a retailer signs up for your program, they are more likely to complete even more repeat purchases. 79% of consumers say loyalty programs make them more likely to continue doing business with brands. You’ll have new opportunities to engage with retailers who sign up for your loyalty program. Easily email your retailers and streamline all communications with program members. You can send new offers, expiring point reminders, and more!
Measuring the success of your loyalty program’s performance routinely and making adaptations to your reward offerings where you find necessary are the keys to maintaining an effective program. You can tailor your emails and revise your messaging to make your program more successful. You can even reach out to your account manager for assistance and guidance if you’re a member of the SmartBase Brand Loyalty Program.
Are you a manufacturer who is considering implementing a new loyalty program?
The SmartBase Solutions Brand Loyalty Program is a completely digital loyalty program for manufacturers that is easy to set up, maintain, and can grow your loyal retailer base. Connect with our team to ask any questions you have and see how easy it is to start! Give us a call at 612.767.9940 or contact us today.
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