I’ve recently joined VCMG as the Director of Petroleum Sales. In my last position as VP, Sales for National Payment Card my time was spent talking with merchants about how to recapitalize interchange fees for use as consumer rewards. Inevitably the conversation turned to card issuance and sales growth. The bottom line, if the consumer did not purchase more products and grow sales, why bother. We all remember “where’s the Beef”, well what I learned was “where’s the ROI”
What we know is that consumers and retailers alike are looking for new solutions in a changing C-store retail environment. We also know that the convenience store industry is evolving and today margin is directly related to the number of consumers who come into the store to make purchases. Gone are the days when gas sales could drive the bottom line. For consumers, it's all about "brand affinity and loyalty". Using loyalty programs to drive more profitable sales, often through the use of "earn & burn" gas discounts is proving very effective.
Consumers are motivated by incentive, and incentives without loyalty are just discounts. VCMG can bring a world class loyalty program to your locations is the sure fire route to success.
MyCstoreWorld has provided a great tool to open up conversations and debate over the effectiveness of programming, I’d like you to join conversation, let’s ask the tough questions and look for real world solutions.
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Thursday, August 19, 2010
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