I’ve asked several of my EDGE customers how they’re doing with their Rewards Program. On more than one occasion they’ve answered, “The cards are sitting on my shelf, I haven’t started using them yet.”
I was shocked! After all, when I purchased suits from Men’s Wearhouse the sales person handed me a Reward card with my receipt. When I purchased a tire at Pep Boys I was given a Reward/Keytag combination card. And so it goes – at the grocery store, the garden shop, the CVS pharmacy, etc.
When it comes to the credit cards in your wallet how did you decide which ones you prefer to use? For me, the most important factor was the kind of rewards the credit card offers.
We even instituted our own Hershel Barg & Associates Rewards Club! It wasn’t difficult. Here are some of the details we took into consideration: We set a time limit of one calendar year for calculating award levels, and reset the meter at the start of the next calendar year. Our reasoning was that if it takes a customer several years to reach a reward level, they needn’t be accorded the same VIP status as one who qualifies within a single year.
We established our own set of awards consisting of specialized items within our product line. At the end of each year we tabulate our Award winners and notify them. If they don’t respond to our reminders, we still reward them by issuing a credit memo on their invoice when they place an order with us in the following year. We allow a one-year time limit to redeem the previous year’s award.
We created our own rules, and we tweak them from year to year. Because we use Quickbooks, we don’t have the same flexibility that your EDGE system offers. So you too can set up your own rules based on the way you prefer to run your business.
In addition, with EDGE you have that ever-present opportunity to hand out additional reward cards to your customers to give to a friend. When the friend makes a purchase, both cardholders will be rewarded, and you will have a new customer! Now how’s that for a Win-Win?
In setting up your Rewards Program the first step is to just get started! When establishing your rules, be sure to insert a proviso that they are subject to change at any time. That way you’ll be free to modify your program whenever you see fit. If you would like us to help, we’ll be glad to do so.
So dust off those beautiful reward cards and hand them out freely. The good will they create will convert into a bonus to your bottom line.