Loyalty marketing strategies involve some simple tips and tricks that help you keep your customers happy. Once the customers become regular to your business, it becomes important to fulfil their expectations.
This is why using loyalty marketing to encourage customers to visit you again becomes important.
Loyalty marketing focuses on retaining existing customers which also helps in building good relationships with your customers.
Some benefits of loyalty marketing for small businesses:
- Existing customers already know about the business because of this it is more simple and cheap.
- Cost of acquiring a new customer is 5 times more than that of retaining an existing customer.
- It can prove to be difficult for small businesses to compete with bigger brands. But a good loyalty marketing strategy will help small businesses to get closer to their customers and have an advantage over these bigger brands.
Here are a few loyalty marketing strategies to keep your existing customers interested:
1. Reward programs
If you want your customers to be loyal to your brand, give them a loyalty reward program. Like a point system that can help boost the customer purchase and increase sales in return.
How you prepare the point system is totally up to you. You can even do this in the form of a gift voucher or a coupon code for discounts.
2. Discount codes
You can provide discount codes to customers after they have purchased the 3rd or the 4th time form you.
For example, giving them free shopping or providing a 50% discount after a certain amount of purchases by sending them an SMS or email can also work for the good.
3. Customer feedback
Customers review and give feedback about the service they were provided with.
Loyalty marketing strategies can include speaking to your customers after the purchase has been made. And even use an email marketing service to conduct a survey among customers to know who has visited your business website and have not bought anything.
4. Referral programs
A referral program is a marketing tool where you provide a reward to the customer for referring your business to a relative, friend or colleague. This can help increase your business and raise awareness about your brand.
If you want funds to implement the marketing strategies to grow your business, you can contact Gromor Finance for quick unsecured loans!