Sales Reward Programs
This day, I have a video to share. This was uploaded by Joel Cohen in YouTube which entitles Mom & Pop Marketing vs. Reward Programs. Obviously this is about the comparison of the two but what intrigues me is the Mom & Pop Marketing so I watched the video. The speaker made a very good point about sales reward programs. Many entrepreneurs didn’t use it wisely and they are just issuing reward cards to compete with their competitors without thinking if it really gives them loyal consumers. He uses a restaurant business as an example and he also explains what Mom & Pop Marketing is. So if you are as intrigued as I am, watch the video.
Mom & Pop Marketing vs. Reward Programs
By Joel Cohen
If you want to have notes about the video, don’t worry because I did it for you.
Joel questions are, as an entrepreneur are you involve in gaining customers loyalty or just relying on loyalty reward program?
The answer to these questions helps you to examine yourself as an entrepreneur. According to him, in reality “today’s consumers probably have 5 to 6 different loyalty cards in their wallet.” They are only using it for discount purposes and not out of loyalty. The question now is how to gain loyal customers? His solution is to check your shopping habits.
Where Do You Shop & Why?
– Lowe’s vs. Home Depot?
– OfficeMax vs Staples?
– Chicago Uno vs Chili’s?
– Kroger’s or Harris Teeter?
Joel Cohen states why he chose the certain store and why it gains his loyalty. Answering these questions is another way of knowing what your customers need; it is like putting yourself on the shoe of your consumer.
He suggest that what is needed is the “Mom and Pop” Factor
> means to know your customers or to recognize them as a frequent diner and this habit often surprise them.
1. Focus on the question, “What are you going to do today that gets a customer/guest to be loyal?
2. Be visible
3. Be the face of the restaurant
4. At least remember your guests’ faces
5. Recognize and surprise a guest with a reward of kindness for their loyalty.
So now, if you are planning to have sales reward program, be sure that the client is worthy to be rewarded. Do you agree with the speaker? State your point!