Increase Customer Retention with Loyalty Programs

Customers have so many options when it comes to where to spend their money. They can always look to other retailers for better deals, so it is important that your business focuses on customer retention. Of course, one of the best ways to retain customers is an excellent product and outstanding service. However, in a competitive market, your business might need something extra to put you ahead of the competition. Loyalty, points, and rewards programs offer additional incentives for customers to stay loyal to your business. From Independent Retailer, here are some tips on building a loyalty program for your customers:

Rewards, Points, Punch cards: Give your customers an incentive to spend more by earning rewards when they do so. When they reach a certain level, they are awarded a coupon, discount, or free item.

Use Email and Social Media for Loyalty: When your customers “like” you online, they are making a statement to their connections. In addition, engagement via social media makes them feel connected to your brand, and serves as a great outlet for customer service. Likewise, personalized emails inviting customers to shop and use your business goes a long way.

Create Special Incentives: Incentivize regular customers with a bonus day, or VIP members-only sale.

For more great tips, check out the full article from Independent Retailer.

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