Customer Loyalty - Growing Repeat Business
Did you know that it costs five times as much to attract a new customer, than to keep an existing one? The first rule of any business is to retain customers and build a loyal relationship with them because when repeat customers are established it is much easier to sell to them than to a completely new one.
There are many marketing tools that can be used to try and encourage repeat spending within your business but one easily implemented tool that can be used is a Loyalty Program. By creating a more personalised experience for your customers, you can incentivise them into drumming up more business at your venue, turning a one time customer into a repeat spender. Having a strong repeat customer base will provide your business with a steady sales income and help to build your brand and your businesses reputation.
"Acquiring new customers costs more than it does to keep existing customers"
Here is a quick guide to turn a one time buyer into a repeat customer:
1.Gather Customer Information
The first step needed in growing your customer base is collecting all the relevant information needed to get in contact with them. This can all be done with ease at your Point of Sale system during the transaction. If, during the sale, the customer wants to join your loyalty program, you can simply gather a few basic personal details on the sale screen and set them up straight away. Be sure that you are gathering enough basic information such as name and email address so that future marketing campaigns can reach them easily.
2. Personalise your offerings
Once you have your customer information, you need to tailer the offerings you provide to them. This is your opportunity to show your customers you offer something nobody else does, giving them a reason to return or even promote their experience within your venue. A way to do this is segmenting your customers by reviewing data collected from their purchase history. This way you can understand their buying trends and see how much they are would be willing to spend on future purchases. From there you can target your audiences with products they would actually want, send personalised emails showcasing perfect deals or introduce new products they would enjoy.
3. Incentivise Your Customers
The next step in implementing a successful loyalty program is to offer your consumer a real, tangible incentive within your business. Since customers are getting price savvy with the increased presence of online competition, you need to give consumers a reasons to stay and shop with you.
The points system through the loyalty program is a great way to not only attract customers, but reward them too, by setting the program to offer points or dollars off future purchases within your store. This is useful in incentivising customers into greater or more frequent spending. More points can also be offered on specific items that might be part of a promotion which can be targeted to particular customers.
Creative Point of Sale offers a Customer Loyalty program that integrates with our Point of Sale system, making it easy to implement these steps and grow your repeat customer base. You have total control over how you choose to implement customer rewards. Contact the team today if you would like more information on the benefits our loyalty program can offer you.