It’s no surprise that loyal, repeat customers are your best customers. Though they only make up 20% of your customer base, on average they generate around 70% of your revenue.
Not only do loyal customers 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.
Focusing your efforts on your loyal customer base is your best bet when it comes to growing your business.
So it goes without saying that developing a customer loyalty program and a supporting marketing strategy is important for every store owner. If done right, not only will you increase your loyal customer base – but you’ll also create an attentive audience for your marketing efforts. (Skip the all-to-common pain of crafting beautiful messages, only to get no email opens and zero engagement on Facebook).
Getting started with Loyalty
Creating a loyalty program for your business is the best place to start. (In Vend, this is as simple as Loyalty and defining loyalty earnings). But creating a loyalty marketing strategy is how you’ll make the most of your loyalty program, and keep your customers coming back again and again.
This guide covers the 2 steps every store can take to keep customers coming back, 7 things to look for in a loyalty solution, and 5 loyalty marketing pro tips to keep you customers coming back.
About Tara Benedict
A former retailer (and unabashed nerd) who daydreamed about integrated POS software, Tara now delightedly recruits, promotes, and enables Vend's wonderful channel of add-ons and partners. An ardent sharer of Vend news and events, connect with Tara on Twitter, LinkedIn or Google+ and never miss an opportunity to meet up with the affable Vend team.