Feel the Love! Boost Repeat Business with a Customer Loyalty Program
Were you aware that it costs five times more money to attract a new customer than to retain an existing customer?
Obviously, customer retention is critical to the success of any business.
If you’re looking for a creative way to increase your customer retention rates, consider developing a customer loyalty program. You can offer a variety of special promotions and incentives that would appeal to your particular customer base, such as birthday discounts, a reward punch card, free shipping, monthly discounts, or free upgrades.
Whether or not you create an official customer loyalty program, here are a few ways to help ensure that customers think of your business when they are ready to make a purchase:
- Send a thank-you note for previous business and offer a future discount or coupons that are too good to ignore, such as “Save 30%, off any one item!”
- Provide reorder forms in packages or send a friendly reorder reminder before items run out (such as direct mail).
- Stay in touch throughout the year by recognizing customer birthdays with exclusive offers.
- You could also recognize anniversaries, such as the first time a customer ordered from you!
- Ask customers how they feel about your customer service and find out if you can improve anything.
- Offer incentives for customers to keep coming back. For example, buy six haircuts and your seventh cut is half off (or free!).
- Reward customers who make advance purchases, such as buying multiple car washes at a discounted rate. Not only will the customer be happy to save money, but you can increase the chances the customer will return to your business to redeem their purchases.
- Send a regular newsletter that includes knowledgeable tips, tricks, and other helpful information your audience will look forward to receiving. You can read past issues of our newsletter, Miller’s Minutes, right here!
- Consider creating a referral program that encourages and rewards loyal customers to do the selling for you.
These are just a few examples of how to retain your most important asset – your customers!
If you do decide to implement a customer loyalty program, consider adding promotional statement stuffers into your next mailing, such as monthly invoices. It’s an inexpensive and easy way to spread the word – request an estimate today!