Can loyalty marketing help scale your business to bigger, better heights?
Can it make your business even more profitable?
Honestly—can it really boost your business?
The answer is: “Yes.”
According to studies, there are two ways to boost your business: One is by attracting potential customers (traditional marketing), and the other is maintaining your current crop of customers who are already supporting your business (loyalty marketing).
Here’s another fact: many experts suggest traditional and loyalty marketing are equally important to business.
Loyalty (cue in “the Godfather” music), is a very useful commodity in business. It is a very important tool, as it actually ensures the continuity of your business, thereby giving you the time and opportunity to make things even better than they already are.
Still don’t think you need loyalty marketing for making your small business bigger?
Did you know loyalty marketing is actually more affordable compared to traditional marketing?
A lot of entrepreneurs actually think attracting potential customers is more economical compared to retaining old clients. Unfortunately, this notion isn’t really as accurate as many would like to believe.
Engaging in conventional marketing actually costs around 5 to 10 times more than loyalty marketing. Accordingly, this is the reason why many brands today offer quite a number of loyalty programs for their clients and customers.
And that’s not all.
Statistics have also shown old clients or customers actually spend more in purchases (around 67% more) compared to new clients.
So, now let’s ask ourselves: What should I be putting my money into? Where should I focus my marketing efforts?
Well, if you ask us—traditional marketing is not a bad idea. In fact, it’s a great one!
However, you should never—ever—take loyalty marketing for granted. Otherwise, you might be wasting a huge opportunity right in front of you.
Curious as to what other benefits loyalty marketing can bring?
Aside from potentially more profits and even more loyal customers, loyalty marketing can also bring about many other advantages which honestly, can be quite impressive.
Loyalty marketing—believe it or not—can even help make your business more attractive to potential customers.
Because when you have loyal customers or clients, they’ll be the one doing the promotion and marketing for you. In effect, your loyal customers become your unofficial “endorsers,” via word of mouth. Of course, we all know how effective “word of mouth marketing” can be.
In short: Loyalty marketing will not only make your customers more loyal, but it can significantly attract more potential customers as well. Yes, it’s hitting two birds with one stone—and this certainly means a lot in business.
Are you looking to expand your brand? Do you want to see an increase in consumer spending for your product/s? Want more people to know about your business? Or do you simply want more profits?
If so, then you should seriously consider engaging in loyalty marketing for your business.
But how do we engage in loyalty marketing? And what steps should I take?
Let’s put your mind at ease: Loyalty marketing doesn’t have to be difficult at all. In fact, if you just use the right strategies and methods, it might even be like a simple “walk in the park” for you.
Rewards programs, cash back programs, VIP benefits, customer discounts—these are just some of the more effective loyalty building methods you can opt for.
Whatever the program may be, one thing remains constant: You need to make sure your loyalty program runs as efficiently and as safely as it should. After all, you don’t want another headache in your already busy life, right?
Here’s a tip: Instead of using the normal “punch cards” a lot of businesses like to use for their loyalty programs—why not go the digital route? This would make things more efficient, you get to reach more people and your life is easier, too!
You can use a loyalty program digital app to communicate DIRECTLY with your customers (in real time). This gives you greater control over who gets certain incentives and on what dates such benefits can be used.
By going digital, you can make your business run a lot more smoothly. Gone are the days when your cashier has to manually compute how much a member’s discount actually is. With an app, all you need to do is just scan the QR code and voila!—the discount is automatically charged. It really is simple and easy.
We encourage you to check out a very special digital loyalty program, which, because they’re partnered with us here at RedFynn, you can get free for life.
So, these are just some of the ways loyalty marketing can help you out.
Do you want to know more about how you can utilize this tried and tested marketing strategy to turn your business from good—to better?
Give RedFynn a call. (888) 510-9871
We’ll help you increase profits, plus show you how to increase savings, too. Any other inquiries you have about merchant services, business efficiency, credit card processing, or business loans, or anything business related, we’ll help you with that, too. Give us a buzz!