On behalf of the entire Priority Pay team, we hope that the holiday shopping season was an amazing one for your business! As you know, the holiday season is one of the busiest times of the year for businesses of all sizes. But as decorations come down and the shopping frenzies fade, many businesses face a lull in customer activity. Retaining those holiday customers is key to starting the new year strong.
What can you do to bring your customers back now that the holidays are over?
Launch a post-holiday loyalty program.
Why not remind your customers about why they chose your brand to begin with? By offering a loyalty program this month, you offer a simple yet effective way to keep customers coming back. It certainly doesn’t have to be the holiday season for consumers to want to save money. In fact, January is a month when shoppers want to save more than ever. Offer incentives like discounts, free items or exclusive deals for repeat purchases.
“One of the main benefits of customer loyalty programs is that they’re an effective way to increase revenue and boost customer retention,” notes Zendesk, “Loyalty programs entice consumers to stay with your brand and make more purchases to get their rewards. For example, a shopper may increase their order size to receive a discount or make more frequent purchases to obtain a higher tier in a loyalty program.”
Host a clearance sale.
Remember that we just said customers are interested in bargains this month. To both clear your shelves and appeal to budget-conscious shoppers, offer discounts on leftover holiday stock. Clearance sales attract bargain hunters and clear out seasonal inventory. They help you to both retain your customer base and make room for fresh products. Use email and social media to spread the word about your sale. Also, consider offering extra discounts for repeat customers.
According to SOLUM, “a clearance sale is a type of sale that can potentially attract more customers than a general discount sale event. Compared to a discount sale, a clearance sale can last for a few weeks until the items are sold and are typically applied to get rid of unwanted inventory that has been sitting in the store for a long time and create space for new stocks.”
Highlight your e-gift cards.
E-gift cards are not just for the holidays! They just so happen to be perfect for year-round promotions. They also act as incentives for customers to return and redeem their balances. It’s worth noting that shoppers often spend more than the values of their gift cards. Be sure to promote your e-gift cards online. That only makes sense, right? Utilize your email marketing lists and ramp up your social media use to encourage visits to your website.
Please don’t hesitate to reach out to the Priority Pay team to learn how you can begin offering your customers electronic gift cards. They have proven to encourage repeat business, attract new customers and boost sales all year long. Our Electronic Gift Card Program (EGC) is the perfect solution to lay claim to your stake in a new era of consumer spending. Give us a call at 1-888-431-4344. You may also email us at info@prioritypay.ca or request a quote on our Contact page!