Card Based Savings Programs
While standard practice is to drive customers to your door using cards with discounts, we have found by coupling this to the NcompassTrac Loyalty Rewards Cloud, you will create an eco-system and currency within your business that will drive repeat business for years to come. Discounts are minimized that in turn preserve margins. What’s more, when followed up with emails and virtual digital card promotions, you extend the life of the card program making the no expiration card a reality if desired. This eliminates the need and cost in subsequent annual card mailers.
How does a Savings Card work? The concept is pretty simple. We load each card for the target customer with a dollar amount. Say, one thousand dollars. Each time a purchase is made, the card is presented and a pre-determined percentage of the dollar amount, for example, if we allow ten percent of the dealership invoice to be deducted from the Savings Card. Ten percent is equal to sixty dollars and that gets applied (deducted) toward this purchase as shown below.
Savings Card Example:
|Savings Card Value||$1,000||Dealership Invoice||$600|
|Savings Card Discount (10%)||-$60||Savings Card Discount (10%)||-$60|
|New Savings Card Balance||$940||New Invoice Total||$540|
Since the beginning Savings Card value was one thousand dollars, the remaining card value is now nine hundred and fourty dollars. Thresholds for the percentages, minimum purchase requirement, initial Savings Card amounts and expiration dates can all be configured in the NCompassTrac Cloud based on dealer preferences.
By putting a card-based marketing system to work for your business you are touching existing and future customer loyalists, giving them a reason to continue doing business with you. This greatly assists with customer retention, the recapture of lost customers, and the acquisition of new customers in your area of interest.