The simple definition of a loyalty program is, a program that offers rewards to customers who frequently make purchases. Studies have shown it costs substantially more to acquire new customers than it does to retain existing ones. Also, existing or repeat customers, tend to spend more as well.
Extole, when using their enterprise platform, can show you how to turn potential customers into existing customers. You can also, if done correctly, use loyalty program ideas to turn new or existing customers into loyalty members.
Loyalty program ideas and some benefits Extole provides are:
- Showing customers they are valued - Make people feel special with more than a thank you
- Encourage return business - Sometimes knowing a reward can be collected may sway business your way
- Help gather information - Learn more about your customer base
- Low cost advertising - Reward cards or periodic emails remind customers of your business
Download our best practices guide and see how Extole can help show you that winning customers loyalty pays off in the long term.