Loyalty programs, very popular nowadays, are based on a simple principle. The pharmacy rewards its loyal customers and strengthens its relationship with them, thus generating more sales. A well-designed and constructed loyalty program performs better than any other marketing strategy as it encompasses several benefits for both sides.
- Loyalty programs attract more customers. Reimbursement attracts new clientele and stimulates old customers to spend more. Studies show that a reward program increases the volume of sales, while at the same time its members spend 30-40% more on average.
- Through the loyalty program the pharmacist can develop a valid customer database, which highlights each customer’s specific preferences allowing the pharmacist to implement custom made offers to his clientele.
- An effective reward program gives a powerful competitive advantage over competition as personalized services can make the difference.
- You can easily communicate the benefits of a loyalty program via e-mail, SMS, social media, alerts on smartphones or promotions through the pharmacy’s digital displays.
- The members of a successful loyalty program will share their experience and recommend your pharmacy. Word-of-mouth is the most effective way of keeping your customer base and attracting new customers.
Pharmacies can benefit a lot by effective loyalty programs building profitable relationships with customers and increasing sales. Unless you already have one, it ιs only inevitable to start your own pharmacy’s reward program right now!