Want To Compete With Starbucks Using A Gift And Loyalty Card Program Will Help You Bring In And Keep The Customers That They Are Getting
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Want to Compete with Starbucks? A Gift and Loyalty Card Program Can Bring in and Keep Customers!
Summary:
What makes Starbucks so successful? Is it their atmosphere, quality drinks, or just habit? If you own a coffee shop or small restaurant, understanding Starbucks’ business model can be key to your success.Breaking Starbucks’ Habit:
Starbucks has been around long enough that many customers purchase out of habit. Your challenge is to break that habit and attract those customers to your place.
Creating an Inviting Atmosphere:
First, ensure your product quality and atmosphere are top-notch. A clean and comfortable environment is essential for encouraging repeat visits.Attracting New Customers:
The toughest part of running a small business is attracting new customers. Instead of traditional advertising, consider a gift card program combined with targeted mailing:- Set Up a Gift Card Program: Starbucks has one; you should too. Create plastic gift cards and use a targeted mailing list of potential customers who fit your business demographics.
- Example Strategy: Target households within a 10-mile radius with incomes over $50,000. Load $5 onto 250 gift cards and mail them as a test run. Expect at least a 40% return rate, which could mean 100 new customers.
Cost-Effective Strategy:
The cost for this strategy includes postage, plastic card expenses, and the amount on the gift card, totaling about $7.03 per client. This is significantly less than traditional advertising costs.Keeping Customers Returning:
Once you have customers, how do you keep them? Offer a discount on gift card reloads. For instance, a 10% discount on $50 reloads encourages repeat visits.- Rewards Program: Implement a rewards scheme. For every dollar spent, offer 5% back on their card. Once they reach $50 in sales, add a $2.50 credit to their card. This encourages daily visits.
Additional Strategies:
Explore further options like giving gift cards to charities or sending them to your best customers quarterly. Collaborate with your gift and loyalty card provider for more tailored ideas.By leveraging gift and loyalty programs, you can effectively compete with giants like Starbucks and build a loyal customer base of your own.
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