Article by Rahul Shetty, Brand Consultant
What is a low purchase frequency item?
Simply put, a low purchase frequency item is one that consumers will buy, but then not buy again for a long time.
Take for example a Bed. Unless your bed breaks down or you’re buying a bed for a friend or a relative too, you’re unlikely to buy two beds within the same week.
This is what’s known as a low purchase frequency item.
The Bridgegap verdict
Finding the balance with a low purchase frequency item loyalty program is extremely important. One way to look at this is that we ideally want our customers to become lifetime customers.
Conventionally, our customers might not buy more than one furniture per month, that’s fine. However, there’s a good chance they might buy five to six in a lifetime.
Let’s suppose customer A is buying 10 furniture items in their lifetime. During the first time, this customer has made a purchase from us, we have to ensure that we keep them engaged with the following to ensure that the potential 10 furniture items that they are going to purchase are going to be from us.
Below are a few ideas on how you can think beyond rewarding your customers on the money spent by them.
- Festive Greetings
A well-branded gift item that can be used by the customer, which can also bring a good recall.
Eg. – Respiratory masks with the logo crest subtly included in one corner.
- Early Access
By providing customers with early access to new stock, gives us a good scope to cross-sell.
Tracking and rewarding a customer for every time they have referred someone to our store. Offering store credits would prompt an earlier return to the store for their next purchase.
- Social Media Feature
In the invoice, there will be communication provided to customers to tag us whenever they upload a picture of their homes with our furniture. For every feature, reward them!
Rewarding efforts like these are good because then the customers become the brand’s biggest advocates