Great Loyalty Programs Keep Customers Coming Back Credit: Roobcio/Shutterstock. For many small businesses, gaining new customers is a huge part of their growth strategy. New leads are important, but if you really want to expand your business, you might want to turn more of your attention to your current customer base. Numerous reports have also shown that the cost of acquiring a new customer is much greater than the cost of retaining an existing one, anywhere from three to 1. Ben Hamilton, CEO of private air- travel service Imagine. Air. One increasingly common strategy is launching a loyalty program.
Some businesses choose to go low- tech and simple with a punch card, while others have an app connected to a digital- rewards database. Your biggest challenges will likely be in determining what benefits or discounts to offer, and sourcing or building a technology platform to support the program, Hamilton said. This helps you avoid adding benefits that absorb resources but don't add much customer value, he said. Thoroughly research and vet the development talent to deliver those needs, or find existing technology platforms that can be customized to meet them.
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Customer loyalty presents a paradox. Many see it as primarily an attitude Learn about customer loyalty programs and how one can impact your ecommerce businesses' bottom line. Get customer loyalty right.
Retain customers longer with Access discounts, rewards and loyalty incentives. Over 350,000 merchants. Private label, turnkey programs. Loyalty program software to give your customers rewards for repeat purchases and social loyalty. Identify and reward your loyal customers and see your sales grow with.