According to research done by the American Marketing Association and Duke University, businesses with revenue under $25 million spend approximately 11% of the annual earnings on marketing to attract new customers. The only things that businesses typically spend more on is employee payroll and taxes.
Here at WaveToGet, we know how to help you lower your costs and increase your ROI (return on investment). One of the easiest ways to do this is to introduce a customer loyalty program.
What It Is
A customer loyalty program is something offered to your customers in order to encourage repeat visits. The more often they bring their business to you, the better rewards they get. Turning new customers into repeat customers means you're not losing them to competitors, which in turn generates more revenue. You can use limited-time-only promotions, rewards for purchase, a point-based rewards program, or whatever might work best for your business. We can customize it around your needs.
How It Saves You Money
While repeat business is a fantastic thing, it doesn't stop the need for new customers. A loyalty program can enhance your marketing strategy, showcasing a new and improved program based on customer needs. Even with this, you still save money by encouraging repeat business instead of just focusing on generating new business. Did you know that it is 6-7x more expensive to get a new customer than to keep a current one?
Another (and one of the most important) characteristic of repeat customers are their friends and family. Do not discount word-of-mouth, and how much business they can create for you by raving about your company and your loyalty program to everyone they know. According to helpscout.net, Jason Mittelstaedt, CMO at RightNow said, "Friends and colleagues' endorsements, discussed in real life or through Twitter and Facebook updates, are more likely to drive sales than even a positive user review posted on a site like Yelp or Amazon (but those matter, too)."
What We Do
Here at WaveToGet, we can design a loyalty and rewards program that is tailored to your specific needs. The software is easy to use, it's a no hassle installation, you have the ability to use any functions depending on your business needs, we can create any design you want, and we have additional and digital marketing options available. Our proven results have shown that letting us create a loyalty program for you is one of the best investments you can make for your business!
For more information on how we work and the programs we offer, please contact us today!