As a marketer, one of your primary goals is to not only attract new customers but retain the ones you already have and entice them to buy from your business again and again. Offering a competitively priced product that customers want to purchase is a huge piece of the puzzle. But how do you convince those customers to stay with you? How do you get them to buy, not once, but many times over?
The answer largely lies in building a relationship with your customers and earning their loyalty. To do so takes time and effort — from providing exceptional service and soliciting feedback to understanding their needs. However, implementing a strong customer loyalty program is a highly effective tool in the loyalty kit.
Anyone who has experienced the thrill of earning that free large iced coffee or cashed in on rewards points to get special deals or freebies at their favorite retailers or restaurants has interacted with a loyalty marketing program. When executed properly, they are a win-win: Customers benefit from discounts or other perks on items they’d most likely be buying anyway, while retailers enjoy customer retention, increased revenue and other avenues for growth.
