MCG brands have always looked for ways to engage directly with their customers, but the reality has been that without the point-of-sale systems (POS) their ability to build direct relationships has been very limited. The lack of direct customer relationships has made FMCGs dependent on retailers to reach their customers and to obtain specific data and information about their customers’ consumption patterns. It also makes it almost impossible to build cumulative customer value over time to increase customer loyalty, which is necessary to maximise the customer’s lifetime value.

In the perspective of a business owner, it is vital to find out the best way to establish a customer base which will return for more. So, what your business does to persuade your existing customers to have their second visit to your store? Here are five smartest ways to gain and keep repeat customers.

Have you started a loyalty programme? Still not getting any results? A customer loyalty programme cannot be something done just for the sake of doing it; it must enrich the brand experience. Customer loyalty programs should be strategic efforts to engage and delight customers while preventing customer churn. We’ll show you how to develop a segmented loyalty programme that meets your customers’ needs and expectations. But before we do, let’s dive a little deeper into where so many brands fail with their loyalty programs.

Did you know that word of mouth generates 5x more sales than paid advertising and that people are 90% more likely to trust and buy from a brand that has been recommended by a friend? What marketers or business owners tend to overlook, however, is that word of mouth doesn’t always have to happen completely organically. But with a little strategy, you can encourage your customers to spread the word.

Differentiation allows you to provide superior value to your customers, creating a win-win scenario that can increase the overall profitability and viability of your business. Companies invest a lot of time and money in differentiation – from product to service to price to customer experience.

Customers are fickle and they’re constantly changing. Trying to build that long-term relationship with consumers is really challenging and a lot of this is due to three major shifts in consumer attitudes that we’ve observed over the past 10 years the first is a shift in consumers attitudes towards technology. Consumers agreement that ‘technology is important to them’ has indeed increased from 31% to 64% in the last 10 years.

In order to thrive and survive in business, business owners will have to embrace a lot of techniques and tactics. Out of which, customer retention strategy is in the topmost of the list as customer retention is far more effective than any other marketing strategies taking into consideration its cost and return of investment.

Businesses are spending vast sums in marketing to acquire new customers trying to replace their lost customers. But research shows that they might be better served by designing strategies to bring back your lost customers. The chances of selling to an existing customer is 60 – 70%, while the chances of success for selling to a new prospect is 5-20%. Existing customers are 50% more likely to try new products and spend 31% more, when compared to new customers. So, how are you re-engaging with your past customers? Or even, do you have a track of who had been your past customers?

In order to thrive and survive in business, business owners will have to embrace a lot of techniques and tactics. Out of which, customer retention strategy is in the topmost of the list as customer retention is far more effective than any other marketing strategies taking into consideration its cost and return of investment.

Selling more is the right way to grow a business, right? After all, gaining new customers is the goal of any business. However, the industry is beginning to realize that hotel loyalty programs can be even more beneficial than acquisition.