You’re the neighborhood liquor store that customers love to come to after a long day or for that upcoming engagement party. Whether it’s the whiskey for that Saturday evening barbeque or that champagne for the bridal shower, you help contribute to the laughter and the memories that come with celebrating occasions, big or small. However, a considerable amount of work is required to get a liquor store up and running. Up to 90% of customers prefer to purchase alcoholic beverages in-store, according to one survey. This demonstrates that people prefer having choices when they purchase their wine, beer, or spirit from their neighborhood liquor store. By employing fresh marketing techniques, you as a liquor store owner should make sure that you provide your customers with more value than simply liquor in order to draw in new ones and preserve the ones you already have. For instance, you could keep your present customers by giving them liquor shop promotional items as a way to express your gratitude for their support and by looking into sales methods like establishing a loyalty rewards program.
Liquor Store Loyalty Programs: What Are They?
A liquor store rewards program, to put it simply, is a form of alcohol marketing intended to draw customers to a store. Through incentives, discounts, or rewards, the customers are encouraged to spend money. The points program, while there are other loyalty systems, is the most effective for a liquor shop business. The "spend more to earn more" concept serves as the foundation of the points system. Customers are given points each time they spend a particular amount of money in your business purchasing liquor.
Based on the amount that has been paid, the points are calculated. For instance, the customer receives 10 points for $100 worth of their favorite liquors. These points accrue over time and can be redeemed at the store. The value of the customer's points determines what they can buy. An excellent method to attract new customers and keep existing ones is by offering rewards programs.
What Makes Customer Loyalty Programs Successful?
Keeping your customers loyal to your store is a crucial part in running any business. Building a customer loyalty program for liquor store purchases that most accurately reflects the mission and principles of a business can help in retaining customers. For instance, several of the top customer loyalty programs offer amazing discounts and promotions to keep customers intrigued by their goods. The best customer rewards programs provide your customers with a sense of exclusivity, value, and gratitude for their time spent exploring your store, which will boost the likelihood of them coming back.
You should make sure that your liquor store's loyalty program has the following components in order to effectively establish it and see a real influence on your business:
Let Its Personality Shine: Having a loyalty program that promotes your brand, style, and originality is one of the most evident strategies you can use in your liquor business to build relationships with your customers.
Make Customers Feel Special: It's critical to provide your customers with reasons to join your loyalty program. However, no customer wants to be bombarded with a constant stream of needless emails or texts. One tip to consider is to reward them for joining your loyalty program by providing them with special offers, discounts, or bargains on their favorite liquor, such as their favorite red wine they love to use for their monthly cocktail parties.
Approaches to Employ to Draw Customers to Your Liquor Store
In addition to loyalty programs, there are other strategies you can use to draw more people into your liquor store, such as:
Eye-Catching Advertising and Displays
The most important thing to do when marketing your liquor store is to get customers excited about shopping. If your store has limited displays or the inappropriate combination of products in the most visible locations, you risk losing the customer's interest. A little bit goes a long way, so make sure to highlight high-margin items in the store's focus points and mix up the things on display to appear intriguing and new. One of the best ways to make your store look welcoming is to add display shelving. This will not only allow you to refresh the look of your liquor store, but it will also increase foot traffic.
To highlight your liquor business, shelving can be set up in a number of different ways, including:
· Adding combination shelves to gondola or wall units that already exist
· Using 4-way display units to encourage spontaneous purchases
· Using open-ended baskets to showcase goods like wine effectively
Utilize Price Tags
If you want to get more customers into your liquor store's loyalty program, then it is time for some discounts! All customers are motivated to spend less while making purchases, which makes them more receptive to offers for discounted goods. You can encourage more customers to value the rewards program's deals by implementing a loyalty program for your liquor store, for instance. Discounted prices used as a marketing tactic for alcoholic beverages draw in new customers and preserve existing ones. In order to enable customers to calculate their savings, you should draw attention to products with discounts on the display shelves. Utilize your economies of scale to set prices for products with significant discounts but larger sales volumes to avoid losses as your liquor store loyalty rewards program is being implemented.
Instead of buying a single bottle of their favorite liquor, the majority of customers favor bundled cocktails. Combining a drink with other ones and offering them as promotions boosts customer spending and revenue. You can mix newer brands with more profitable ones using this alcohol marketing method. If you're launching a new product in your store, you can utilize liquor store advertising to boost sales or combine the new item with an already existing one at a reduced price. Besides, it’s an opportunity for a customer to try a new drink that might end up being a favorite of theirs for special occasions!
Strategies for Marketing Your Liquor Store
Back in the day, all a liquor store needed to be successful was to be stocked with alcohol and have a convenient location. But in more recent years, that hasn't been sufficient. To outperform your competitors, it's essential to continually market your liquor business. You, as the business owner, are responsible for marketing a liquor store to ensure its success by offering enticing and effective promotions to draw people in. You should think about other marketing techniques in addition to developing the greatest customer rewards program if you want to grab customers' attention.
Below are a few recommendations for improving your liquor store advertising:
Provide Delicious Samples
It’s an underrated pleasure to walk into a store and be welcomed with a delicious bite-sized snack while you’re shopping. Whether it's a new appetizer or dessert wine, it's a chance for customers to learn about a new product. It was discovered that businesses with food sampling booths frequently experience a 10%-15% increase in revenue.
An employee at a liquor store could perhaps offer a customer a mixing demonstration, then give them a free sample and sell the ingredients packaged with the recipe so they can easily make the cocktail on their own for a party or even just a night in. To encourage customers to buy a specific liquor brand so that they can obtain the branded items, your liquor store can brand things like tumblers, sweatshirts, or totes and offer it to them as a complimentary gift.
Liquor stores' rewards programs are an efficient approach to market your beloved liquor store business, so why not create one for your business? By creating one, you can boost your revenue and retain your customers because you are showing your thanks for their business by giving them exciting rewards, whether it's a free bottle of the latest champagne or a branded tote they can use to run their errands. We at Loyal-n-Save are waiting for you at the starting line if you're prepared to take advantage of the wonderful opportunities having one will provide you.
Whether you own a fish store, a bath bomb boutique, or a liquor store, our rewards club is the loyalty solution for businesses of all sizes. Our rewards club serves as the loyalty solution for businesses of all kinds, whether you own a liquor business, a bath bomb boutique, or a fish store. Loyal-n-Save helps you design the blueprint of your ideal rewards program, providing you with the tools to help you achieve everything from customer retention and a boost in revenue to a Swag Shop to provide your customers the chance to use their rewards towards exclusive merchandise offered by your store. If you want to make it to the finishing line and watch your business soar, get in touch with one of our specialists today for more information.
This article was written by Loyal-n-Save, an omni-channel customer loyalty solution for retailers looking to increase customer retention and new customer acquisition.