Two representatives from Buzz Points, a loyalty and rewards program aimed at supporting local businesses and community institutions through rewarding points to consumers, discussed the program and other marketing tools during a breakfast sponsored by Members Advantage Credit Union Tuesday at the Clarion Inn in Michigan City.
“It was an excellent presentation,” said Frank Beachnau, CEO of Members Advantage Credit Union. “The program helps encourage local citizens to buy and shop local and earn points for themselves by building a stronger community.”
Buzz Points representative Carlos Camacho said that while national companies often spend a good amount of money on marketing strategies, small businesses do not have to, and that’s where Buzz Points can help.
With a Members Advantage Credit Union debit card, consumers can earn points with every purchase and bonus points for shopping local. The points can then be redeemed for gift cards or charitable contributions.
“We maximize your marketing dollars to boost your revenue,” Camacho told a number of local merchants attending Tuesday’s breakfast. He said the rewards are sometime four times as much when consumers use the card locally.
The program is expected to launch in May.
Will Andrews, another Buzz Points representative, showed those in attendance an outline of marketing ideas including the “four P’s” and the basics of marketing warfare.
“Marketing is a lot more than just advertising,” Andrews told the group.
While the four P’s include product, price, place and promotion - Andrews pointed out that Buzz Points is a particular asset when it comes to price and promotion.
“We focus very heavily on promotion,” Andrews said. “If you are going to have a deal that offers 20 percent off your top product, it does no good if no one hears about it.”
The four warfare strategies include defensive, offensive, flanking and guerilla, Andrews said.
The defensive strategy is geared toward the No. 1 business in the market while the offensive strategy is best for No. 2 and 3. Flanking is for “new players,” Andrews said and small players should consider using the guerilla strategy.
“They should all be thinking about how to promote themselves in different ways,” Camacho said.
A similar event, "Marketing Warfare: How Local Businesses Can Take on National Chains" Presented by Buzz Points and Members Advantage Credit Union, will take place on Wednesday, April 9 from 7:30-8:30 a.m. at the Rosewood Family Restaurant, 2606 Portage Mall in Portage.