If you run a small business you should consider implementing a customer loyalty program. Doing so will encourage loyal customers to keep coming to your store over and over again. Why are returning customers so important to a small business? Because it takes more money to market your products or services to a new client than it does to keep an existing client.
Are you a small business owner looking to improve your sales and market reach? If so, contact the Winflow Financial Group today! Our consultants offer personalized strategy counselling for your small business so it can grow.
There are many types of customer loyalty programs you can try including:
- A rewards program. Rewards programs give customers gifts based on how often they shop. A good example of a rewards program is the Shopper’s Optimum card. The more you buy at Shopper’s DrugMart, the more points you acquire. Acquiring enough points will earn you a percentage off of your next purchase.
- Free gift program. This type of customer loyalty program rewards customers with a free product or service after they have already purchased the product or service several times. For example, if you operate an ice-cream shop you could come up with a program that gives customers one free ice-cream after they have purchased seven.
- A membership program. Membership programs offer money-saving incentives if your customer joins the program. Think of any gym membership or bulk store membership you have had.
The best part about customer loyalty programs? You learn the most from your loyal customers and you can use the information they provide you with to better market your small business.