The Race for Customer Loyalty: It’s seven times more expensive to acquire a new customer than to encourage an incremental visit from an existing customer.
Building customer loyalty is — and has to be — the primary focus for every business. Loyal customers spend more per purchase, visit more frequently, and are the number one source of new referrals. In fact, loyalty represents a business’s single most lasting and protectable asset to monetize for years to come.
Read the eBook to learn the top 5 things all companies should know about building a customer loyalty program
- How to get customers enrolled
- Why the reward accrual process is so important
- The value of clear communication between businesses and customers
- Tailoring your program for your unique business
- What Tiffany’s jewelry and tuxedo-clad firefighters have to do with customer loyalty…
In summary: Best in class loyalty programs are simple, effortless, transparent, sustainable, and motivating. Hit all ve of these goals and you’ll see more customers crossing the finish line and blow by your same-store sales targets for next year.