Open a Line of Credit for Your Customers
There is always something new to try in an effort to grow your business. Some of these “new” trends are actually age-old marketing methods that are simply seeing resurgence. Some tried and true marketing strategies will always be important tools for business growth. One thing that is here to stay is offering a line of credit to keep your current customers happy and to attract new business. What are some new trends that you can add to your retail marketing strategy today?
15 percent of consumers prefer to rent products rather than buy them. The most popular rented products include exercise equipment, consumer electronics and furniture. It’s really catching on with millennials, the newest group of consumers that are making a big impact on the economy. Would setting up rental operations make sense for your business?
Setting up a loyalty program should be on the list of things to do this year for all businesses- it’s another retail trend that is influencing buyers. Loyalty programs offer special deals to customers who frequent your business. They often include a discount on various products as a way to say thanks to your biggest fans.
You can also put a little more pizzazz in your loyalty program by tying it in with an environmentally friendly cause such as recycling. For instance, you could offer rewards to people who make good life decisions, such as recycling or exercising or volunteering. Think of ways your organization can embrace this and maybe you’ll earn some free media support that leads to a heightened brand image.
It is important as a retail business today to focus on being customer centric. It’s a model that relies on big data that is used to understand the target audience more thoroughly. When you analyze the data you see where your target audience is becoming educated on the products in your industry. You see how much they buy and how often. It’s a smart way to gain new customers and really cater to a target audience that is suddenly easy to identify.
Part of that customer centric focus involves giving your customers choices at checkout. Cash, traditional credit card and debit cards are the most popular, but a new version of a line of credit is emerging as a perfect addition to the checkout process. Opening a line of credit through a third party financier can help you reach a new audience, especially if the financier operates in a more non-traditional way. These are companies that can work with prime and near-prime consumers.
The HELPcard operates just like a credit card, but the application process is much easier, and credit is made available to a larger category of people. Whether you’ve got A, B, or C credit, The HELPcard can give you more spending power so consumers canyou’re your products or services now and pay for them in low monthly payments. Contact us today and let’s talk about how we can help your customers with a line of credit.