Why Should You Have A Customer Loyalty Program?
Typically, the focus for businesses is put on attracting new customers – not looking after existing ones. While it’s understandable that you want to grow your customer base, you should also be looking at how you can convince them to buy from you again.
One of the best ways to influence purchasing behaviours is to implement a customer loyalty program. Done efficiently and effectively, it has the power to transform your business and enable growth for years to come. Here’s why.
Customer retention can be one of the best and most cost-effective ways of growing your business. On average, acquiring new customers can cost you five times more than retaining existing ones and, considering loyal customers are believed to spend around 67% more (Inc. Magazine), it’s clear to see why you should split your efforts between the two. KCPOS point of sale (POS) solution provides you with valuable insights into your customers, including order history and referrals. Use this information to deliver a unique service with a scheme that is tailored to their shopping habits, including personalised offers and pre-sale access.
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