What is Customer Loyalty?
Customer loyalty reflects a customer's willingness to buy from a business again and again, and it's the result of a positive customer experience, customer satisfaction, and the over-all value the customer gets from their transaction within your business.
Loyal customers spend more often, and they are more likely to tell their family and friends about positive experiences. A word-of-mouth recommendation is more effective at driving new customers to your business than expensive advertising campaigns. Referred customers become loyal customers that are likely to spend even more than the average customer who is not part of a loyalty program.
There are various ways in which to implement a customer loyalty program into your business, these may consist of simple yet effective programs such as offering free food or beverage as part of a package deal, accumulation of reward points, offering customers gift vouchers, or even a percentage discount on a selected range of products.
complete customer loyalty That really pays off
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Research shows that it costs a business between 5 and 25 times more to acquire a new customer than it does to sell to an existing one. Not only that, existing customers spend on average 67% more than new customers. In short, implementing a simple customer loyalty scheme really does pay for itself.
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Loyalty cards are the ideal tool in helping to build and enhance customer commitment. Using loyalty cards will allow your business to record customer usage and provide valuable information as to what products they are buying.