The key, my friend, is not to always get more customers but to retain and reward the ones we have.

Why do I believe this?

Because…

62% of consumers don’t believe that the brands they’re most loyal to are doing enough to reward them.

54% of respondents would consider increasing the amount of business they do with a company for a loyalty reward, and 46 % said they already have.

{source: ClickFox}

A recent study by Experian revealed that three out of four (75 percent) U.S. companies with loyalty programs generate a return on investment. 3 out of 4. Imagine that!

Customers LOVE being acknowledged for their continued support. A study from KiteWheel reported that 25% consumers are frustrated when a company fails to recognize them as a past or current customer. {source: Loyalty360}

Do the math.

It’s not my strong suit, else I’d have done it for you. But numbers are numbers and if you pull out the calculator, you’ll find that rewarding the customers you already have will make more sense and help you increase sales, word-of-mouth and eventually, new customers as well.

Which is what today’s Get More Customers strategy is all about.

Loyalty Programs.

These aren’t shiny things that big brand names have.

These are simple yet effective ways to thank your most loyal customers for their business.

You can have a loyalty program regardless of what product or service you sell.

I mean, I love it when Starbucks rewards me with an upgrade or a free drink! And that’s just coffee, when you think about it, right?

Something as simple as a 20% off on their 3^rd purchase with you or a $50 credit when they shop for $500 with you over a period of time are all easy ways to encourage repeat purchases and boost customer loyalty.

Of course, no amount of rewards can replace awesome products or services and customer service so am assuming you already have that covered.

Other than that, your 2-part challenge for today is to think about how can YOU reward your most loyal customers and boost those sales today?

Some ideas:

::Discounts and special pricing

::Free shipping or products

::Store credits

::My fave though: Collaborate with another business owner and send out a small physical gift. For instance, if you have an all-organic baby products store, you can collaborate with a handmade soap business and send out soaps with your brand name on them.

Then… make a list of at least 5 customers you can reward right away and send them an email with their loyalty bonus. Want to really go the extra mile? Snail mail a handwritten thank you card with their loyalty gift or bonus.

How will YOU appreciate your customers? Share with me in The Biz Bistro or tag @contentbistro on Instagram with the #GetMoreCustomers hashtag and share away.

Tomorrow we’re talking about cards;) So head back here for more sales-boosting strategies!

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