Loyalty programs have been a go-to for businesses to provide a value add, retain customers, and increase sales. You cannot help but see loyalty programs in any company you visit nowadays. Whether it’s an email coupon, a discount code, using a card to earn points on purchases, or using your phone number tied to a membership program!
Loyalty programs have the ultimate “IT” factor and always will – they won’t be disappearing anytime soon! The philosophy and driving force behind it are pretty simple:
- Repeat customers are rewarded, and businesses increase sales
- New customers feel there is a value add and companies create recent sales
Did you know: A repeat customer spends 67 percent more on a given purchase than a new customer does! Therefore they should be rewarded for their continual purchases – and retaining customers is less costly than acquiring new ones!
Loyalty programs are an easy way for businesses to thank their customers and, in turn, are a motivator for customers to become brand ambassadors. They are loyal to the brand, stand behind the products, and will share with their friends and family – increasing your reach to potential new customers.
Attracting new customers has always been challenging. It can take a lot of resources to do it effectively! It costs the average business 6-7 times more to acquire a new customer than retaining a current one.
However, loyalty programs can help attract new business (and new money). As new customers make their way through the “sales journey,”. It provides a value-add to a new customer and can help narrow their options or sway their choice, to purchase from your company.
Another good point for increasing your bottom line – is loyalty programs don’t have to cost a fortune (thus keeping money in the bank!).
Why a customized loyalty program?
An excellent customer-oriented program is an easy way for businesses to show their side and remain competitive.
With the surge of mobile and e-commerce, there is no need for you to print cards or buy ink. When there is an option to use digital customer loyalty programs.
NextBee is the platform of choice for its ability to track loyalty metrics for both – sales and advocacy, reward option integration into shopping carts and subscriptions, personalized offers for the program members, and 24×7 available support.
NextBee enables you to build an army of loyal customers who are as excited about your brand as you are! Are you ready to create a customized loyalty program for your customers and increase sales? Contact Us Today!