Drive spend and build loyalty in one go, all in a soft economy

''In general, there are many factors that influence a customer's loyalty and spending behaviour, depending on who your customers are, your core offerings, service, satisfaction, location and price. Price matters and is in focus at the moment, as we do see many businesses reducing prices significantly as a short-term fix for driving sales it does, however, not build customer loyalty; in fact, it could fuel the opposite. We therefore recommend that business get to know their customers better and then provide them more of their core offerings, which will be perceived as better service and thereby increase the overall satisfaction", says Ole Milan, co-founder of Vice Versa.

To accommodate that Vice Versa's has designed a loyalty card solution for retailers that fits the economic climate, with a low entry cost that requires limited resources from the client's perspective. Vice Versa has put together an outsourced solution that gives companies the option of a quickly implemented loyalty card, which includes online access to performance reports and spending behaviour, as well as a structure for storing potential customers who want to learn more about the company's offerings. Further, it can be enhanced with Vice Versa's one-to-one direct marketing tools.

Within six months, a company should have a good history of their customers' buying behaviours and preferences, and it can start targeted communication with relevant offers. This type of communication is not only less expensive but also more trusted, and therefore receives higher response rates, so while making a limited investment in the future the company will also be able to save in other marketing areas.

Kira Milan, Managing Director and creator of the Vice Versa card principle says, "Coming from a perspective where engaging with your customers is key to staying in the minds of your customers and generating long-term relationships, we believe we have the right 'cure' for businesses operating in the current market situation. Companies focusing on more than price will come out on top. We understand that 'quick fixes' can be necessary, but the business should make sure that they get something in return for reducing prices - such as customer profiles - so they can start a dialog and engage them. So while the business adjusts to the market situation, they should invest in the future to ensure that consumers who are out there hunting for offers and rewards, and spending their money smarter, not only spend them in their business but also increases the business share of their customers wallets based on long-lasting fundamentals!".