Reward Cards Build Loyalty & Revenue

As an entrepreneur, it can sometimes be quite difficult to find new customers and build business, especially given the current economic situation. Regardless of your chosen profession or industry, referrals are always one of the most powerful and reliable ways to earn new business and expand your market reach. Of course, providing an exceptional customer experience is paramount to gaining the trust and confidence of your current customers that will spur them to recommend your business to their friends, family and neighbors. But, offering a little incentive doesn’t hurt either.

Two years ago, Dr. Chris Woolaver launched his state-of-the-art orthodontics practice, Woolaver Orthodontics, in Ahwatukee, Arizona, on the outskirts of Phoenix. A Canadian by birth, Woolaver opened his office amid some fairly challenging circumstances.

“It was the middle of a recession and we were going into a well-established neighborhood,” Woolaver said. “I knew we’d have to work hard to get noticed, so we focused heavily on branding and building a reputation for providing the latest in advanced orthodontic treatment in an edgy and progressive atmosphere.”

His award-winning facility has more of a sports-bar feel — definitely not your typical dental or orthodontist office. Patients who come to Woolaver Orthodontics feel confident they will receive the most advanced treatment with the latest technology from the moment they walk in the door.

With his focus on branding and marketing, Woolaver is a master at maintaining and supporting his brand message throughout every aspect of his business. It’s a strategy that any branding expert will attest is spot-on for growing any kind of business, but one that isn’t exactly commonplace among private-practice medical or dental professionals.

In fact, Woolaver has even carried the branding theme through to his referral program, giving patients a $100 custom-branded Woolaver Orthodontics prepaid Visa debit card for each new patient they refer who begins treatment. Woolaver says that, while offering patients rewards for referrals is quite common in his industry, most practitioners might hand out Starbucks, Walmart or AMC movie cards, which essentially promotes those brands, rather than the practitioner.

“We’ve taken it to the next level by making it consistent with our brand. If I’m going to reward my patients for referrals, I’d rather do it in a way that promotes my business, rather than another company,” Woolaver said. “I hope to see thousands of these cards floating around the neighborhood. The more people use them, the more likely someone will see them and maybe ask, ‘hey, where’d you get that?’ That top of mind awareness creates continuous exposure, which helps build brand recognition and bring in new business.”

To create the cards, Woolaver uses IncentiveCardLab.com, a service of CardLab, Inc., that allows him to design his own customized card, complete with the Woolaver Orthodontics logo, and whatever message he’d like to include. The cards can be loaded with any denomination desired, but Woolaver says the $100 cards provide a compelling incentive for his patients. He gives out an average of 15 cards per month-meaning the cards bring in at least 15 new patients to his practice each month.

“Considering that the typical fee for complete orthodontic treatment is around $4,500 to $5,500 in this market, I’ll spend $100 for that,” Woolaver said. “The ROI makes it well worth it for me, and it’s great for patients too. There’s no limit on the number of cards patients can earn. I have some patients who have literally paid for almost half of their own orthodontic treatment by referring their friends.”

Woolaver issues the cards to both adult and adolescent patients (or their parents), and says the relatively small investment of $5.95 he makes to customize each card is well worth it to continue promoting his brand and his business. The cards can be used anywhere Visa is accepted and can be reloaded, if the recipient desires.

As Woolaver has found, when it comes to growing your business, it sometimes takes a bold new approach to a tried-and-true tactic. By thanking customers for their referrals with a unique and memorable gift like customized, prepaid Visa cards, any small business can create the kind of top of mind awareness and brand recognition that can increase revenue and build long-term growth.

About the Author
David S. Jones is CEO of CardLab, Corp. the global leader in customized, pre-paid Visa incentive cards for employee incentives, customer rewards and personal gift-giving. The company’s easy-to-use custom card design and distribution services make it simple, fast and affordable to send FDIC-insured incentive cards in any denomination from $5 to $2500 to anyone, anywhere, with no minimum order and no setup fee. For more information, visit http://www.giftcardlab.com.

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