Despite the proven results of our marketing and loyalty program, we often hear from businesses that say “my customers will come in anyway…”
That statement relies on a few assumptions:
- All your customers are so committed to you that they are immune to your competitors marketing.
- Each and every customer you have always leaves ecstatic every time.
- None of your competitors are doing anything different or new that you aren’t already doing better.
- New competitors aren’t opening up.
- The environment in which your business operates isn’t changing.
Since we track an incredible amount of data and can compare a group of customers who DID receive marketing against a group of customers that DID NOT receive the same marketing, the statistics disprove that assumption.
Marketing is an an investment with a return to be measured and maximized. That is the heart and soul of Royalty Rewards®, and your best business decisions are based on facts rather than feelings.
Your marketing strategies should all be fosused on getting your customers to come back more often and spending more money each visit.
None of your customers wake up in the morning thinking about your business and how they can spend more with you. Nor do they wake up and think “I’m going to go to XYZ business today to earn more points”.
Think of your business as a bucket that you pour customers into. But there are holes in your bucket, and you lose customers every day through no fault of your own. Some relocate, divorce, die, get dissatisfied, get lured by a competitor, or simply forget about you.
This is the reason why you have marketing and loyalty program in your business, to minimize the losses. By signing up every new customer that steps through your door to your program, it ensures you are locking an iron cage around as many of them as possible, making them loyal to you as your marketing works to build a bond with them.
This is why Royalty Rewards® tracks the Lifetime Value of your customers. It serves as a reminder of how VALUABLE a repeat customer is and why you need to continually nurture the relationship. There are a lot of options out there for your customers, they probably drive by many similar businesses to yours to get to you. Your marketing program needs to engage them, give them a reason to return to you, provide value, and get them to spend more money over the course of their lifetime with you.
“Customers who have an emotional relationship with a brand have a 306% higher customer lifetime value than those who don’t.” – Hubspot
Retention is all about engagement, connecting with customers on a personal level, offering them value, and making them feel valuable.
You are right, SOME will come anyways. But many will come a few times and simply forget about you. Don’t let that happen! Give them a reason to return again and again.