Loyalty points for clients
Remember sales junkets?
Your GM, GSM, and sometimes the local Sales Manager would all host a big trip to Cancun, or Hawaii or Fiji, and take all the best station clients and their spouses with them, free.
Does this still happen?
Because I’ve found some information that may help you win sales, and it’s related to the idea of the sales junket.
It’s impossible to buy anything these days without being solicited for membership in their loyalty points program. It may have started with air travel, but it is ubiquitous now.
Your station probably runs one for listeners, though I’ve yet to see one that’s really effective — and I’ve seen all the major ones. They cost more than they produce, IMHO, and become the prize beast that must be fed.
But today I want to talk about a loyalty points system that your sales staff could use to help sign and close accounts.
Because I’ve found a study that says “…the mere presence of point values influenced…buying decisions. Even when the value of loyalty points was less than the value of a real money price difference, (buyers) were swayed by the loyalty points.“
Your clients are already used to selecting an airline based on their loyalty program, staying at an hotel based on loyalty points, buying groceries at a store that gives them points toward cheaper gas, clothes at stores that give them points for discounts on future purchases, and on and on.
What would happen if you used a loyalty points system for local clients, and national buyers?
The evidence in this study says it may help you close a few more deals.
By the way, if your station or company is already doing something like this, could you please share it with me? I promise not to divulge any proprietary secrets, and won’t even mention your name or company if you wish. I’m just interested to know how its working for you.