It's proven: Retaining existing customers is one of your best marketing strategies as the following statistics illustrate:
- According to Gartner Group, 80 percent of your company's future profits will come from just 20 percent of your existing customers.
- Bain & Company in association with Harvard Business School published the results of a study which revealed the following: Increasing customer retention rates by just 5 percent, increased profits by 25 to 95 percent.
- According to an article in Forbes, it's 50 percent easier to sell to existing customers than to potential prospects.
- Starbucks 2013 loyalty program played an important role in the company's 26 percent profit gain in 2013.
- 3.3 billion Americans had memberships in at least one rewards program in 2014.
So just how do you make those one-time customers morph into lifelong brand-loyal advocates? By giving great customer service, supplying products or services that solve their pain points, and by letting them know that you appreciate them. A loyalty program is designed to show your appreciation and encourage repeat customers while at the same time reducing the cost of your marketing campaign.
Your Best Marketing Tool
A gift cards program is an important part of an effective loyalty program. Gift cards are a $128 billion a year industry and 77 percent of those using gift cards spend more than the value of the card! In addition to increasing customer spending, a gift card software program draws traffic to your site as customers check their balances and review rewards—always good for SEO and helping serve loyal customers while becoming noticeable to potential clientele. And what will many of those loyal customers do with their rewards or gift cards? Share them with friends and family.
In order to use this tool optimally, you will need to consider the following:
- Obtain a customer gift software that creates and manages your loyalty program and offers flexibility. WaveToGet creates a card for your business that can be used as a Gift, Loyalty, Rewards or Membership card, depending on your needs. The state-of-the-art software is user-friendly with a cloud-based-server, giving your company ultimate freedom.
- Design the gift card in such a way that it defines your business, building brand loyalty. WaveToGet designers will create your card, including creating a free logo, with your brand in mind.
- Develop a marketing strategy for your rewards system. WaveToGet offers a custom-tailored, detailed marketing strategy plan at no cost.
- Obtain invaluable information about your customer's needs, preferences and habits through the use of their card via the software program.
Contact us today and start your loyalty program tomorrow! Our proven marketing method, ongoing support and easy interface will provide you with the tools you need to make your new loyalty program a success.
