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How Rewards Effect Customer Loyalty

Loyal Customers Want to Be Rewarded

A current (January 2016) article in Marketing News magazine, a publication of the American Marketing Association provides a summary of a larger study on the effects of customer loyalty on retail pricing.  In the “The Buzz“, an insight into scholarly study “Willing to Pay More, Eager to Pay Less: The Role of Customer Loyalty in Price Negotiations” shows some interesting information on offering discounts to customers.  In essence, offering continuous discounts to clients creates a “downward spiral” of pricing.  This means that the more discounts you offer a customer to maintain repeat business lowers your profit.  The article also states that “Loyal customers want to be rewarded, but rewards don’t have to be discounts”.  How can you be creative in your marketing efforts to reward your clientele without giving them discounts?  Easy!  The study shows that “free gifts”…. stand as effective gestures to customer loyalty”.  There are lots of ways and price points to give gifts.  

  • Promotional Gifts
    • Promotional products can serve two purposes for your business.  They can be branded with your company information while at the same time, be a free gift and hopefully be a useful item that will be used and/or seen daily
  • Executive Gifts 
    • Want to offer something a little, nicer, a little more perceived value, this category offers tons of ideas within your budget but can look and feel much more expensive that they are
  • Personalized Gifts
    • These are very, very cool.  You can personalized each gift with your logo AND the clients name and/or company.  Click here to see an example
  • Incentive Gifts
    • There are the Granddaddy of gifts.  These can be Top Brand/Name Brand Merchandise that can be branded and unbranded for your customer.  You can purchase the products as one-offs or create a branded web site where your customers can orders these types of gifts using a code you give them.  You can even give codes out that work for different price points.  C

All in all, giving your clients gifts is a perfect way to gather continuing loyalty from your customers. 

Protecting Your Credit Cards

RFID Credit Card Sleeves

Protecting Your Digital Footprint

Technology has given us wonderful things and freedom but has also opened the opportunity for crooks.  It’s a sad but real truth, thieves are developing new and clever ways to steal your valuable financial information.  Criminals can secure your credit card data simply by walking past you with an electronic scanner or conceivably a cell phone.

This threat is due to the implementation of radio-frequency identification chips (RFID) or Near Field Communications (NFC) chips being embedded in all new credit cards and ATM/Debit Cards. (Ironically to make identify theft more secure)  Even large financial institutions can run in to this issue as Barclay’s Bank did in Great Britain as this video shows

 

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Is the danger a significant threat to you? Probably not (at the moment) but a simple fix can ease your mind.  By inserting your cards into a protective sleeve (shown top left) that has a protective internal foil, scanners can not read your cards.  Think an aluminum hat to keep the aliens or the government from scanning your brain… same thing!

This product is a great promotional product for your company also… especially if you are in any type of security or financial company.  They are inexpensive and a valuable tool for you and your clients.

Do Business Cards Still Matter

Primal Marketing, Rodger PriceIn this age of overwhelming digital media, do business cards still mean anything?  For that matter, even to people under 35 years old who could just “Bump” information (of course if there is a WiFi signal present… oh and if “Bump” still existed!)  But back to business cards, “Why yes Virginia, they do!”  More than ever business cards are just as important as when they first began being used in the 18th Century as Calling Cards or TradeCards. Attend any trade show, business mixer or business meeting; the business cards are flying fast and furious.  

Don’t take my word for it, check out what graphic designer Roberto Blake says in this video.    If you want to check out some cool business card transformations, click here or give us a call to see the newest in business card materials and imprint methods.