The Benefits of the Customer Loyalty Program in Malaysia
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If you are considering starting a customer loyalty program for your business, either online or offline. Customer loyalty program nowadays is viral. Almost every store will offer a membership card. With more advanced digital communication systems nowadays, customers can install the loyalty rewards app on the phone to track points’ collections for future redemption. Find out more here!
Membership System Retains Existing Customer
An existing customer is critical! There is statistical support that 82 per cent of U.S. consumers say that they are loyal to a brand. The other statistical support mentioned that existing customer spends more than new customers. Therefore, don’t ever look down on the typical plastic card. It is helpful enough to grow your business significantly by giving rewards.
Besides, the retention of your customer has lots of benefits. Existing customers can enhance your business by doing word-of-mouth. In other words, the current customer has a high potential to get your business a new prospect. Therefore, without the old soldier, how can the new soldier be skilled?
The Cost of Loyalty Program Malaysia Is Less Costly
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Here you might wonder how much will you cost on a customer loyalty program? Your investment in loyalty program software is one of the long-term investments that your business should take into account. Loyalty program software indeed is a need for a customer loyalty program. Maintenance is also a must to protect your customers’ data and information.
Loyalty program software indeed needs a lot of maintenance in the security system and so on. The membership system is varied for each store. Since the complicated membership system in Malaysia may cost hugely to a business, there are many companies that choose to outsource the services to the expert.
On the other hand, membership card printing can be costly too. The expenses of printing a physical card seem less significant, but your business can save up much without printing them. However, some sector takes preciously in owning a physical card such as the government and financial sectors. Thus, ID card printing service is a never-ending business.
Those physical PVC card printing can be a burden to the customer. Imagine that there are billion of shops available in this world that offers membership card. Every customer possesses at least four crucial physical cards, which are the national identity card, licensees, employees’ or students’ identity card, and so on. A membership card is not even considered on that vital list.
Although card printing costs, you can negotiate the price with those ID card suppliers for bulk quantity.
Investment On Member Card Printing Is Worth For Your Business Future
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The customer loyalty program will add more value to both customers and your business. This value-adding is a win-win situation that encourages engagement from the consumer.
If you want to invest in a customer loyalty program, you can consider investing in a mobile loyalty app. People are unable to leave their mobiles nowadays and people frequently lose their membership cards due to too many, and it is not vital in life.
A mobile app can slowly substitute the physical card, and it will solve the issues of redemption. A membership card App is undoubtedly a great alternative to make sure your customer is rewarded after consistent patronage.
Furthermore, a membership card in the current era is getting less functional than in the past. But the usage of the membership card is yet to be eliminated in the market. There is a company looking for an ID card printer for printing. Either you can outsource the printing services to a membership card supplier or your company manages to handle it.
In conclusion, the retention of an existing customer is better than the acquisition of a new customer. Although a new customer is essential, the old customer has a better chance of profit.