Reasons Companies Have Consumer Loyalty Programs It may cost five to ten times more to acquire new business than to retain existing ones, according to a 2010 study by Inc. Magazine. Recurring consumers spend, on average, 67% more than a new customer, according to this same study. You have taken the time to create a product that you stand behind and have established a presence in the marketplace. You are now trying to build your client base. What else could you do to make sure that your hard-earned customers are staying with you? Choosing the right customer loyalty program is important to your continued success. The Convenience How many times are you at your favorite stores checkout line and have been lured in with the promise of some rewards program, just to be handed a trifold brochure that asks you to fill in tiny boxes? Then are you directed to go online, fill out more forms, register your card, answer survey questions, and wait around for your rewards to come in the mail? And how often do you really go home and do it? And how many times do you find that paperwork, or an assortment of half-filled punch cards, littering your kitchen counter, the backseat of your car, or the bottom of your purse? This detritus floats around your house until you eventually throw it away, only to grab more the next time you’re in the store - this time really planning to fill it out, but nonetheless feeling frustrated and annoyed by the whole process. Is that the actual experience you would like to offer your customers? The solution won't be physical cards. You'll need something your customers can track easily and enroll in simply. The Cost Effectiveness These punch cards or reward cards are expensive for you to maintain, in addition to them being a pain for your customers. Your employees spend more time looking them up and even more money replacing them, each time a customer loses or forgets a card. You'll need a program that's costeffective for you, as well as being convenient for your customers. Making It Mobile Based on 2014 data from the Pew Research Center, 90 percent of American adults have a mobile phone, and 63 percent of those use their phones to go online. That’s a powerful platform that a majority of consumers have with them everywhere they go. Harnessing the ability and ubiquity of a cell phone can be as simple as sending a text message, while developing an in-house app can be expensive and time-consuming. Search for a tool that lets you contact your customers directly via SMS messaging and uses their own cell phone number to monitor their rewards. Tracking Your Success You want to know that your efforts are worth it, now that you have targeted the best platform and keyed in on your marketing strategy. You'll need a platform that's agile and accessible to identify who your customers are and which rewards they enjoy the most. You'll need a dashboard that Reward Pads LLC
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Reasons Companies Have Consumer Loyalty Programs allows you to track the payoff rate of your coupons, when a product or offer picks up steam and which people are your most loyal. This allows you to target your efforts to better improve your customer experiences and more logically spend your marketing dollars. You don't want to waste any more time generating a more effective customer loyalty program. Your entire business may well rely on it. RewardPads will have you saying farewell to paper punch cards owing to an electronic customer loyalty program. For additional info on RewardPads, go to their site at http://www.rewardpads.com/.
Document Tags: customer loyalty program, customer loyalty programs, customer loyalty programs for small business http://www.rewardpads.com/
Reward Pads LLC
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