Maximize Customer Retention with Square Loyalty Rewards Program (Full Transcript)

Speaker 1: Square Loyalty lets you reward your customers for their in-store and online purchases with points that keep them coming back to your business again and again. Your Loyalty program can increase repeat sales and help you deliver a memorable customer experience. First, decide how you'd like your customers to earn points. Set them for how much they spend, how much they visit, and for which items they buy. You can reward customers every time they spend a certain amount of money. This works best for customers who visit your business once a month or less frequently. Great for full-service restaurants, retail stores, and salons. You can also reward customers based on how often they make purchases in-store and online. This works best if you sell lower-priced items or a repeat service at your business. Great for coffee shops, quick-service restaurants, and service-based businesses. Item-based programs help you promote special items. This can be great for high-margin items you'd like to sell. Always consider your business's average transaction size, how often your customers come back, and how long it takes them to do so. Here are a few tips on how to incentivize customers to return to your business and make them feel appreciated each time they shop. As a useful best practice, make sure customers can earn a star from at least 80% of their transactions. Strict rules may discourage them from participating in your rewards program. Next, always reward customers on time. Programs that let customers earn a reward within 30 days or less of enrolling are most successful. Always offer a meaningful reward, like something worth 10% of what they spent to earn the reward. Or 50% of your average ticket value. To set up or adjust your Square Loyalty Rewards Program, go to the Loyalty section of your online Square dashboard. Click Loyalty Settings. Edit your customers' rewards, and then save. Update any time. It won't affect your customers' current points. Don't forget to share details about your rewards program with your customers. Share your Square Loyalty status page on your website, on social media, by email with Square Marketing, by text message, or by allowing your customers to enroll on your Square online store. For more information, go to square.com slash help and search keyword loyalty.