SMB Data Point of the Week: Loyalty Programs Popular with SMBs
Nearly one in four small and medium-sized businesses offer a loyalty program according to our Local Commerce Monitor™ (LCM). Top industries that use loyalty are retail, construction/contracting, and accounting/bookkeeping. While there are a large number of loyalty-based apps and programs available to SMBs, the vast majority (59.8%) of these loyalty programs are being operated in-house using a paper tracking system. However a third of SMBs offering a loyalty program report use an in-house digital tracking system.
With more SMBs wanting to add loyalty to their marketing mix, showing them the benefits of a cloud or automated service should focus on time saving, flexibility and accuracy vs. manually tracking their offers.
* There are 1,010 SMB respondents in our full sample. Of these, 23.3% currently offer a customer loyalty program.
BIA/Kelsey’s LCM, Wave 19 reports can be purchased a la carte in the BIA/Kelsey eStore. Our LCM reports look at where particular SMBs (broken out by size, vertical, etc.) spend the most, as well as the top channels for marketing and advertising. Additionally, our reports provide analysis on the best product and service offers for highly coveted groups of SMBs.