Growing Big While Staying Small
As the economy seesaws between recovery and failure, what’s a small business to do?
Variable incomes make projecting anything into the future a guess at best, and employees are constantly looking for their next gig.
What if you could give your employees some help with a bonus that you don’t have to pay for and get new customers while generating an additional revenue stream?
Lyoness can make that happen for you.
In our third installment we’re looking at how to give your business an edge in the marketplace. An edge that will put you ahead of the national chains and those local competitors with less foresight.
In a previous post (“Lyoness: A Common Mistake”) we looked at the basics of how Lyoness works. In short, you can get cash back by shopping with Loyalty Merchants and earn a small cash bonus when your share the program. We also talked about how Shopping Units work in “A Unit by any other name“. So with all that in mind, let’s answer the question, “How can Lyoness really help my small business compete, especially with the ‘big boys’?”
Getting The Word Out
Advertising is always a gamble. You’re never really sure if your message is getting in front of the right people, even if you do tons of research. But becoming a Lyoness SME (Small-to-Medium Enterprise) Loyalty Merchant, your business gets put in front of people looking for deals and most importantly: looking for you!
When you become an SME, your business is added to the Lyoness Phone App. Ok, whoopee do! I hear ya. But in Lyoness this is a key way for people to shop. They can access details on merchants and search for nearby places that have what they need.
Best of all, the app shows people the businesses in the immediate vicinity and it shows only those businesses that are physically headquartered there. So, if you’re a restaurant and there’s an Outback Steakhouse nearby, the Aussies won’t show on the app because their corporate office is in Tampa, Florida. That means that if someone is ‘jonesing’ for their Bloomin’ Onion, you’re probably out of luck. But if they are just looking for a great place to eat, then its just you and the other local Lyoness merchants they will see first.
And if Lyoness members do their search online by zip code, same deal: You show and they don’t.
Reeling Them In
Now that you’ve got their attention, how do you keep ’em hooked?
Quality service is always a good start, and word of mouth is a big help.
But through Lyoness you can now offer a loyalty merchant program that pays the instant customers make a purchase. We’ll cover just how to register your customers in a second and why its a huge advantage for you to do so, but getting them on board means they can get their benefits the moment they pay their bill. No stars, butterflies or points to collect. Just immediate benefit and gratification. How great is that?
As a Lyoness SME you’ll be able to offer customers a percentage of their bill in return for their patronage, a sort of ‘Thank You’. You negotiate with Lyoness how much that percentage is, giving you a chance to set the tone in your market place.
Finally, you don’t have to manage some program to figure who gets what when. Lyoness does it all after you report the sales to Lyoness each week via the Internet.
It’s all done with a scanner that allows a Lyoness Loyalty Merchant to scan either the customer’s membership card, or the virtual card that can be found on the phone app. And merchants have the option of using the just the membership card, taking cash straight from the member’s Lyoness Purchase Account or both.
Getting Everyone In The Boat
Now that you’re an SME, here’s a tactic that I’ve developed and am seeing used as businesses consider Lyoness for their loyalty merchant program.
The SME registers their employees into the program. This works great for people on your staff that deal directly with the public, but everyone could join. Think of it as giving them a discount card they can use for the rest of their lives. Employees like servers or clerks that will be doing the bulk of your sales are perfect. This gives them the ability to benefit from Lyoness when they shop. Win number one.
As customers come in, your staff is trained to ask if they are part of your loyalty merchant program called Lyoness. If they are, great! If they aren’t, then the employee can ask if they’d like to sign up for free. (People love free stuff! Don’t you?!) Depending on your setup, the employee could register them right then – sending a confirmation email to the customer’s smart phone – or they could wait until they get home. If they have the smart phone, the can confirm the email, download the Lyoness Phone App and activate their card right then and there! And, as a new Lyoness member, they’ll get their first cash back that night.
The key here is that when the customer is registered that they will be signed up under the employee. The employees would bear the small $1.50 online registration fee and would also see benefit from the new Lyoness member whenever they shop.
And that leads us to our next topic …
The Phantom Bonus!
What do your employees get for signing up customers into your loyalty program? That’s where the Lyoness Friendship bonus comes in. As those customers use their Lyoness membership at your business, and at any of the more than 2,000 Lyoness merchants online and around the country (and even more worldwide), they earn a 0.5% cash bonus on those purchases. The amount from any one customer may not be much, but as they register more and more customers they’ll see the amount grow from a few dollars to a lot more.
They get a bonus with your help! You get happy customers receiving a discount whenever they shop with you, your employees get some extra cash in their pocket and no one has to worry about coupons or one-time deals!
Ah, but there’s more!
Make Money Without Selling A Thing
Remember, the Lyoness Friendship Bonus goes two levels deep. That means that if you referred your employees, you get 0.5% from everything they spend at Lyoness merchants as well as everything their Directs (aka your Indirects) spend! When they shop with you or any Lyoness merchant, even if they are a competitor, you’ll be seeing income from those purchases.
And as those people share Lyoness with others, there are even more ways to create an additional revenue stream that will support your efforts well into the future. That’s where the above article on Shopping Units comes in.
Lyoness gives small business owners options that no other merchant loyalty card can. It keeps track of the benefits, it promotes your business and gives you and your employees a chance to make a few extra bucks by sharing it for a small, one-time fee. And Lyoness SMEs never pay another thing unless they make a sale. No monthly fees, minimums or processing charges.
Do you have another idea about how to use Lyoness in a small business environment? Maybe you have questions about becoming a member or getting your business on board with the world’s largest, fastest growing shopping community? Drop me a line or leave a comment. I’d love to discuss it with you further.
As always, the information and the membership are free!
Posted on August 15, 2013, in Business / Finance and tagged back, bonus, Business, card, cash, employee, entrepreneur, home, loyalty, Lyoness, merchant, MLM, owner, Small. Bookmark the permalink. 2 Comments.