In the world of retail, there are few things more valuable than the repeat customer. These people are the foundation of your business, not only purchasing goods and services from you, but acting as your unofficial brand ambassadors with their family and friends, as well as on social media.
In short, these are your most loyal customers. You should reward them in kind in the form of loyalty programs.
- Buy nine sandwiches, get the 10th free.
- Cumulatively spend over $200 over time and get a $15 discount on your next trip.
- Use a loyalty card and get cumulative rewards, like discounts, access to new products, and free stuff.
Programs like these are proven to create loyal customers who come back to you again and again, because not only are you great at what you do, but you’re giving them added incentive to visit even more often. It is also important to reward these existing customers because it costs five to 10 more times to attract new customers than to service current ones.
Not only that, but loyalty programs give you a great look at each customer’s purchasing habits over time, and they collect valuable contact data for your marketing purposes.
There’s surely a loyalty program that can work for your business. At Meridian, we can craft a loyalty program that suits your business’ individual, unique needs.