Sometime an occasional “freebie” can bring in surprising profits for your business. Here is a good example for you to ponder.
I was finishing up my last-minute holiday shopping yesterday, when it occurred to me that a gift card would be appropriate for a friend of mine who is trying to “eat healthier” even though his busy schedule necessitates eating out frequently. I stopped at a local deli-type restaurant and bought the gift card, using my credit card for payment. Before the transaction was complete, I was asked what kind of a free sandwich I would like! The freebie came with the purchase of an “X Amount” gift certificate.
I wondered how they could make a profit from giving away free sandwiches. After thinking it through, I realized that l) I liked the sandwich and will probably return for more later, 2) my friend will also like the sandwiches he will buy and will probably return for more later, 3) the store was able to set the amount of future gift card purchases, and 4) the store’s database will have customer information that can be used to send out advertisements of sales that will bring both of us back for more purchases.
Keeping a track record of who your customers are and what they buy is a tremendous advantage when it comes to repeat business. Does your POS Software allow you to do this? CounterPoint’s CustomerConnect feature allows you to send targeted emails using purchase history and other customer data. In addition, it allows you to see which campaigns generate the most revenue, and much more!
If you’d like to hear more about CustomerConnect, we’re here to answer your questions. Call us at 800-672-4806 or email us for more information.