Take Your Business To The Next Level By Winning The Loyalty Game
It can be overwhelming to start a business from scratch, and then it's often equally exhilarating to land that first customer. You've made your first sale and convinced your first buyer that YOUR product is worth buying...which means it's time to sit back and relax, right?
As good as that sounds, that's very rarely the end of the road for the business on its way to the next level. The good news is, however, that there are hundreds of ways to get there. We believe that one of the most valuable methods is through the cultivation of customer loyalty.
Why is loyalty so valuable?
According to the Harvest Business Review, "acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one." This is a key statistic to factor into your marketing plan, because it means that you'll be able to significantly reduce marketing costs by spending more time on keeping loyal customers than on aggressively pursuing new customers. Researchers at Bain & Company drive this point home in their report, where they argue that a 5% improvement in retention rate can lead to increasing profits by 25%-95%. Suddenly, we're not talking about empty corporate jargon – we're describing a very specific effort made by marketers that keeps customers, earns goodwill and improves the bottom line significantly.
Okay, so a loyalty program is worth it. How do you begin?
Launching a loyalty program
Launching a loyalty program should never feel like a stab in the dark; in fact, how you structure your efforts should be a carefully crafted and strategic plan. Thankfully, companies like ours can customize features within our WaveToGet Loyalty & Rewards program to meet your needs. For example, if you're a small, local business needing gift cards for upcoming events, giveaways and holiday occasions, we'll help you create personalized gift cards with the branding you need that then turn into loyalty cards once the gift card value is gone. Want to make the customer feel like they never stop earning? You can also work with our professional team to assign loyalty points to every dollar spent, making them feel like they're always getting back something for what they put in.
If you're a larger business and have customers who come in to purchase regularly, take it one step further with our customer rewards program. Set customers up to receive free product, gifts or services depending on their number of purchases. We can even help you defuse customer frustrations with our customer satisfaction card.
You're the one building the successful business, but you don't have to do it alone. Let our team at WaveToGet help you with your bottom line by providing the professional support you need to take your business to the next level, winning the loyalty of every customer who walks through your door. Request your Free Sample, a Software Demo or just contact our qualified marketing consultants today. We are confident that we can reach your big, hairy, audacious goals!
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