Identify cash clients...
As the owner of a business you will receive customers on a daily basis, some you might know others not. But how much do you really know of these customers that invest in your company's cash flow. Successful loyalty programs can have a huge impact on a customer's purchasing habits. The MyBonus Loyalty program provides a channel for developing long-term relationships with your customers and for reaping all the benefits that a good relationship entails.
Incentivise account clients to pay on time...
Although the MyBonus customer loyalty program was designed for the purposes of tracing cash customers it can be used to motivate account holders to pay their accounts on time. Account holders will only qualify for rewards if their account is paid on time or within the prescribed period of 7 days after invoice. Their card is only swiped when proof of payment is produced. If an account falls into arrears, no redemptions will be allowed until the account is paid up-to-date. In some instances account holders may decide to rather pay in cash than to use their account. The implementation for account holders is totally up to the store owner's discretion. In the case of an account not being paid, the store needs to notify MyBonus to temporarily suspend the card until payment is made.
Cooperate with other brands...
A marketing committee consisting of representatives of all the MyBonus partner brands is being formed. The mandate of this committee is the promotion cooperation between the different brands. You do not have to wait for the formation of the committee; you can get a list of partner companies in your area. If you work together to run promotions or competitions the cost to each company involved will be substantially less and the value to the customer substantially higher.
Motivate & evaluate staff...
The MyBonus program is a great way to motivate staff by using the member-get-member program; staff can earn points by introducing new members to the program. MyBonus will at regular intervals have competitions where salesmen and cashiers compete with other teams nationally across different partners. A customer survey can also be run at the request of the store owner whereby, customers will be asked to vote for their favourite cashier or salesman. This will then be communicated to the manager and the owner of that store. A store owner can purchase MyBonus reward-points to give to the person in-store that contributed the most to the company's turnover. The owner will have to notify MyBonus if they would like to run a customer survey.
Customer's buying decisions are driven by emotion and they will rationalise these decisions based on facts. If you connect to customers emotionally the negotiation for their business is already done. Let's say you are the owner of a golf driving range and you are a MyBonus partner. MyBonus has tracked the customer's transactions via your POS (point of sale) system on a weekly basis for the last 6 months. As a special promotion you decide to have a sale on all the Ping clubs in store. MyBonus can now go back and list all the customers that bought the Ping brand from the day you joined. You can then use the MyBonus program to invite these customers with an interest in Ping to a pre-launch VIP evening. You have accessed the most basic emotions in these customers and ensure you have a room full of people that want to buy that product from you... your success rate just went up exponentially. Affinity programs are being introduced as the natural progression of the MyBonus process. With an affinity program like the MyBonus Rhino card or the MyBonus Education Card you can talk to the soul of a customer as well as being perceived as being mindful of what is important to them. The customer can then decide to give away part of their rewards to these programs.
No price negotiation
A customer with a MyBonus card is less likely to negotiate the price of a product then one without a card. The reason for this is very simple but very effective. The MyBonus customers are more interested in the rewards they get than the price they pay. They will spend money on items that they might not need just to earn reward points towards that special item they've been saving their points for. The focus is the rewards and not the price. The MyBonus member is driven towards their next reward.
Grow & maintain database
It costs 4 times more to attract new customers then to retain the ones you have, it's in your best interest to know them better and with MyBonus you can do just that. As a business owner you do not always have the time or resources to maintain an active database. Now you can get on with doing business with the knowledge that MyBonus is taking care of it. Furthermore you know that the information on the MyBonus database is up-to-date, it is achieved by rewarding members every time they update their information. MyBonus can then tell you what type of car they drive and what are their hobbies.
Loyalty customers are more forgiving
A MyBonus member is more lenient towards a MyBonus partner and their staff. A customer will not address a problem in service they will usually just disappear and not come back. In this instance the MyBonus "We miss you" campaign can get them to come back and in conjunction with a customer survey will ensure that no victims of bad service are left behind.