Starting your own business is no walk in the park—and ZAP knows this firsthand. We’ve experienced several ups and downs on our journey to becoming the go-to provider of loyalty programs nationwide. Over the past 12 years in the rewards game, we’ve picked up some real gems of wisdom that have helped us form meaningful connections with our 1,000 partner merchants.
These insights have become the bedrock of our growth. We at ZAP believe that by nurturing these aspects, small and medium-sized enterprises (SMEs) can also establish a solid foundation for growth and resilience, allowing them to confidently take risks while remaining stable. We’re still learning along the way, but we hope that these insights can offer some guidance and inspiration for others on their journey to success:
1. Listen to Your Customers
Understanding your customers is crucial for engaging with them and nurturing a solid relationship. For us at ZAP, this means getting to know our partner businesses inside out and painting a clear picture of the customers they serve.
We know that to whip up a top-notch customer rewards program, we have to dive deep into what our partner merchants need and how they aspire to grow. By understanding their size and how they operate, we can craft loyalty programs that speak directly to their unique audience.
By staying attuned to changing customer needs, we are also able to adapt our platform to continue delivering a smooth user experience. Balancing what our partner merchants need with their customers’ expectations isn’t just about making a great product; it’s about keeping everyone happy.
2. Have a Good Product
No flashy ads or PR stunts can make up for a lousy product. What we’ve learned from building ZAP is that a good product will always have these two characteristics: 1) it satisfies a need, and 2) it is easy to use. Following Rule #1 above is our litmus test for how well a product fills a gap in the market and how we can improve it.
3. Iterate a Lot
We’ve tweaked and tinkered with our customizable loyalty program countless times, even going through a program overhaul since we started in 2012. Through trial and error, we’ve learned not to fear making mistakes but to see them as stepping stones to growth.
4. Built Trust and Credibility
Building trust with clients is key. It means delivering on promises, being transparent, and always acting with integrity. These values build long-lasting relationships and get people talking about your brand for all the right reasons. And these positive word-of-mouth referrals go a long way – in fact, it’s what helped us grow our client base from 50 to 1,000 partner merchants and counting.
5. Make Use of the Data You Have
Using data to make decisions is gold. It helps us understand our business, how customers behave, and what’s happening in the market. Mastering data analytics tools lets us gather, analyze, and make smart decisions based on our findings.
These five principles aren’t just strategies for us—they’re the heartbeat of our business. We’re all about helping merchants connect with their customers through outstanding products and services. As we continue to grow, we aim to be in as many customer touchpoints as possible to design a bespoke customer experience because we believe each customer is unique and deserves to be rewarded.
