Now that you’ve ASKED your customers for their loyalty you need to take the next step and CULTIVATE it. Increasing customer loyalty doesn’t happen overnight. It isn’t just about sending a mobile coupon or a one-time offer. It’s a relationship that needs to be nurtured. The authenticity you show to a one-time purchaser can turn them into a repeat customer.
Asking a customer to download your Loyalty Card and showing them how to earn free food and discounts is a great first step in developing a loyal customer. It also gives you 9 more chances to create a life-long customer and cultivate a relationship that will grow as they continue to come back to fill up their card.
The average company loses 20-40% of its customers every year. By reducing customer attrition by just 5% you could improve your business’s bottom line profits by 25-85%1! Happy, satisfied customers tend to be more loyal. They become brand ambassadors that refer more customers and even tend to buy more. This same study found that it costs six to seven times more to gain a new customer than to keep an existing one. Start with the customers coming in your door. Introduce them to your Loyalty program and share with them how they can save money and get rewarded for their patronage. Cultivate that relationship and you will be rewarded with brand ambassadors who keep coming back.