Loyalty Programs Should Make Sense for Customers and Cents for You

You’ve heard it a million times; keeping current customers is easier than acquiring new ones. That’s why crafting a well-designed loyalty program that makes sense for your customers should also add more “cents” to your bottom line. Loyalty programs are important for several reasons. Two of the most important are: It makes customers feel valued and important When that happens, customers are likely to visit and purchase more often and at a higher dollar level when compared to an occasional or new customer. They also become a bigger fan and cheerleader for your business and we all know, “word of mouth” or “organic” advertising is the most effective and least costly when compared to other methods. You acquire valuable demographic information Think about it. Most of us know our good friends first and last name, email address, phone number, and birth date. By building a loyalty program, you’re asking customers to be a good friend. They give you information and you reward them for their loyalty. As with any good friendship, protect and value the information they provide. If not, they won’t be a friend for long. Loyalty programs can be crafted for almost any business and we see them [...]