80% of your sales come from 20% of your customers… I know, if you had a penny for every time you heard the Pareto principle… well, it may sound trite, but it surely is true that loyal customers are fundamental for every business and possibly no one experience it more than your local shops.
There is an ongoing debate, in the UK, about the future of the High Street. Local small businesses must face the fierce competition of chain stores and online shopping. The latter, has been often cited as the main responsible of the declining footfall.
So how can independent shops, with their limited budgets, respond?
A few months ago, I noticed some colourful plastic cards with a cute little octopus icon, popping up in many of the shops I regularly visited during my lunch break at work.
I picked up one (admittedly just because I liked said cute little octopus) and checked the site of the company, which is called Swipii… as you might have imagined from the title of this post.
Their proposition seems rather interesting, from what I gathered: they let businesses set tailored reward programmes and enable them to run email marketing campaigns while offering an account manager to analyze the data.
Customers can get points for shopping in all the businesses that are part of the Swipii network – my definition, not theirs – which, at the time of writing, consists of 567 locations across Britain.
Do you know of any other similar schemes? Do you think they would work? I would love to hear your thoughts about how digital can complement more traditional shopping experiences or services.