The Community Card is more than just a way to strengthen your community, it is also a tool for you as a merchant to strengthen your bottom line. There are three distinct ways that participation in I Buy NEO can help you increase your profitability as a business.
1. More Customers
- Cause-related marketing is on the rise. Consumers will make conscious decisions to shop for products and services at places that support what they care about. I Buy NEO connects everyday purchases with the values and causes that your consumers care about, and by doing so drives new customers to your door who intentionally seek out businesses that support their ideals.
In addition I Buy NEO is funding an extensive marketing and promotion campaign to build visibility for the program and participating businesses. Through media and publicity, member communications by all the beneficiaries, the dynamic online directory, in-store decals, to promotions at local events throughout the city, participating business will be highlighted as Community Card merchants throughout the city.
2. Better Customers
- According to Entrepreneur.com, approximately 45% of consumers spend more money at stores where they have loyalty cards, and according to Providian, every dollar spent marketing to an existing customer yields five times more than a dollar spent attracting a new customer.
The Community Card is a tool to help turn your good customers into great customers by incentivizing them to shop more frequently at your place of business. Increased frequency means increased marginal revenue because you reduce your operating costs per customer, which directly impacts your bottom line. Loyalty programs allow merchants to target marketing dollars towards building repeat customers.
3. Bigger Customers
- Across a wide range of businesses, customers generate increasing profits each year they stay with a company. In financial services, for example, a 5% increase in customer retention produces more than a 25% increase in profit. That's because return customers tend to buy more from a company over time. As they do, your operating costs to serve them decline.
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Let's talk!
Please send us your contact info and we'll send you an email with the Merchant Agreement and other materials.
Meanwhile, peruse the Business Overview and Participation Criteria.
(Business name and email are required. Others optional.)
