Natasha, from Collect, guest blogs about how every business can develop a loyalty marketing strategy that can help you keep your customers coming back.
Developing a loyalty marketing strategy is important for every store owner. But, it shouldn’t be hard.
There’s a few must haves for a successful loyalty program. And if done right, not only can you increase your loyal customer base – but, you will have an attentive audience for your marketing efforts. Your best customers are your loyal customers. Though, on average, they only make up 20% of your customer base, they generate around 70% of your revenue. Not only do they spend more, but loyal customers are more likely to refer their friends and family to your store, and more likely to respond to your marketing offers. In fact, when it comes to your marketing budget, it costs 7 times more to acquire a new customer than retain an existing one.
So, focusing your efforts on your loyal customer base is your best bet when it comes to growing your business.
Creating a loyalty program is a good place to start. But, creating a loyalty marketing strategy will help you make the most of your loyalty program, to keep your customers coming back again and again.
In this helpful Guide to Loyalty Program Success you will find;
• 2 steps every store can take to keep customers coming back (great service and a smart loyalty solution)
• 7 things to look for in a loyalty solution
• loyalty marketing pro tips (from creating loyalty rewards that work, to encouraging social sharing, to creating relevant and personalised offers).