Loyalty Marketing Creates
The purpose of a loyalty marketing program is not just points or rewards or plastic cards. These are just means to an end.
Loyalty marketing programs are a way to track customer behavior in order to find out their preferences, cater to those preferences, and keep a two-way communication going.
It is the way to establish and keep “top of the mind awareness" for your customer. You do that through the use of incentives, referral rewards, rebates and such.
Not only that, by establishishing “top of the mind awareness,” you brand your product or service in your customers mind so that if they need the service or product that you provide, they will automatically think of YOUR business first and not you competitors.
Catering to customer’s preferences is like rolling out the red carpet to those that frequently do business with you.
With so many advertisements infiltrating our day, we have become bombarded and naturally we only tune into things that have become personal to us and that pertain to our specific needs and wants.
A customer loyalty program allows you to market to existing customers for pennies. Why spend thousands of dollars trying to reach new customers?
Customers who belong to a loyalty marketing program visit twice as often and spend four times more.
Knowing the names, contact information and key information about your customers makes marketing easier and more affordable. Not to mention that a working customer database can nearly double the value of a business if you decide to sell in the future.
In the best interest of the customer and of your business, it is only sensible that we cater to those that have already expressed an interest in our business and/or products.
We should treat them like the VIPs that they are. Now, I’m not saying that you give any less attention to customers that spend less. What we are saying is that repeat customers are the lifeblood of your business.
It is only naturally that you give special attention to those that regularly frequent with you.
Not to mention, all of the free publicity that you receive from happy customers.
Did you know that eighty-two percent of Americans participating in customer loyalty programs have referred friends and family to their favorite loyalty programs?
What other form of advertising gives you an 82% rate of return?
There is only one and that is Word Of Mouth. Word of mouth advertising solidifies you as a business and creates free advertising, which means more profits for you.
The result is an ever-stronger relationship with customers that increase frequency, per-visit revenue and marketing budget efficiency.
Ok, enough about what it does, let’s get to what to do…
Here are some great ways to increase customer loyalty through the use of loyalty marketing by industry:
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To find out more about how you can get a loyalty program for your business, contact us here.
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