When a customer visits your store, there are a number of factors that go into their purchase decision.
Obviously, they’re on the hunt for the right item at the right price — but those aren’t their only considerations. Many shoppers are also looking for a personal touch. They want to feel understood, valued, and appreciated when they shop at your small business.
To win over these customers, you need a way to connect with them, learn more about them, and reward them for choosing your store over a competitor’s.
A customer relationship management (CRM) tool can help you accomplish this goal. Let’s dive into what a loyalty CRM is, and how it can help you nurture your customer base, build a connection with your shoppers, and boost your profits.
What Is a Loyalty CRM?
A CRM is a powerful retail tool that empowers you to build lasting relationships with your shoppers. Your loyalty CRM tracks your customers’ purchase history, stores their contact information, and gives you insights into their shopping habits and favorite items.
Along with tracking key information about your shoppers, a loyalty CRM is also critical for generating repeat business and building a thriving base of loyal customers.
Your loyalty CRM will manage loyalty program enrollment, track the accumulation of rewards points, and automatically apply program discounts and perks to shoppers’ purchases — making it effortless to build goodwill with your customers.
Let’s explore a few specific ways to use a loyalty CRM.
1. Boost Customer Engagement
A loyalty CRM is a must-have for staying in touch with your customers. It gives you a way to conveniently collect and store contact information like their names, phone numbers, and email addresses — all of which are critical for running effective marketing campaigns.
If your point of sale (POS) solution includes integrated text and email marketing tools, you’ll be able to easily send your customers e-receipts, alert them when you’re running a promotion, and encourage them to stop by your store to check out your newest arrivals.
2. Nurture Customer Loyalty
Through a customer loyalty program, your shoppers can earn rewards points and unlock special perks and discounts in return for choosing your small business.
The promise of big savings will encourage your shoppers to return to your store again and again, and to spend more each time they shop with you.
A loyalty CRM makes managing your loyalty program a breeze, allowing you to grow your loyal customer base with ease.
3. Better Understand Your Customers
Another key benefit of a loyalty CRM is that it helps you get to know your customers better. Once customers have opted into your loyalty program, your software will begin associating each of their purchases with their unique customer profile.
This data will not only help you and your team provide excellent, personalized customer service, but it will also help you better understand the wants, needs, and habits of your most loyal customers.
For example, your loyalty CRM might reveal your customers’ favorite items, peak shopping times, and average purchase amounts — which will help you make more informed decisions about how to run your small business.
Built-In Loyalty CRM vs. Add-On Loyalty CRM
To make more sales, build a more engaged customer base, and get key insights into exactly what your customers want, you need a loyalty CRM.
You have two main options if you’re ready to take advantage of this crucial tool.
First, you can adopt a point of sale solution that has a loyalty CRM baked into the system. In this case, your loyalty CRM will be fully integrated with your POS software, meaning that you can process transactions, see your sales reports, and manage your CRM data all in one convenient place.
Your other option is to use add-on CRM software. If your current POS system doesn’t offer CRM software, you might have to pay an additional fee to unlock this feature, or you’ll have to find another provider for an external CRM solution.
While add-on CRM software might be necessary if you’re locked into your current POS system, it can be difficult to manage customer data and purchase history across two different systems.
Find the Right POS Solution With a Built-In Loyalty CRM
A POS system with an integrated loyalty CRM can be a game-changer for your small business, helping you enhance the customer experience, expand your customer base, and reward your shoppers for choosing your store.
If you’re hoping to add this valuable asset to your small business’ toolbox, check out Comcash! Comcash is an all-in-one point of sale solution that includes a robust loyalty CRM, along with everything else you need to streamline your store’s operations and boost your bottom line — including inventory management features, mobile POS functionality, and more.
Take Comcash for a spin by scheduling a live demo with one of our retail industry experts today!