Rewarding loyal customers is a vital part of creating repeat business for your company. There are many ways to reward customers; some businesses choose to use coupons or other discount cards. More recently, companies have shifted to pre-paid debit cards as a reward for highly loyal customers. There are two main types of cards currently used, one has a set amount before being coming useless, and others offer a refill option.
A prepaid debit card without a refill option is a great option for service-based companies. If a customer spends a certain amount, or uses you a certain number of times then you can give them a card for a pre-determined amount of money to be used at the store of their choosing. Rarely these cards will be tied to a specific store or business. Cards like this are often more effective than coupons because people feel as if they are saving a great amount of money, even when realistically they are not.
Prepaid cards with a refill option are more common for retail business. With these cards, loyal customers get a preset amount of money when you give them the card then if they wish they could add their own money to it at a later date. These cards are typically limited to the store they are issued from, but rarely will work anywhere credit cards are accepted. These prepaid cards often boast the company logo to help with advertising as well as letting customers know where the card is accepted.
Prepaid debit card services are offered by many companies and should be very well researched in order to get the best deal for your money. Some cards will charge a fee to the company each time they are used; the best cards, as far as saving money, are ones with upfront costs per card and no maintenance fees. If you cannot find an offer like this then try to choose a card with a flat rate per month rather than the fee being incurred upon use, this helps you to budget for the cost and prevent nasty surprises in your budget.
No matter what kind of prepaid debit card you choose your customers are bound to appreciate them. Loyal customers are the basis of any successful business and should be reminded occasionally just how much they matter to you, loyalty programs such as prepaid debit cards are an excellent way to do this.