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.

There are numerous choices for consumers to join membership. Today they have enrolled to your membership loyalty program, tomorrow they join another one and goes on increasing. They seldom remember what benefits you have for them. So, how are you going to keep them engaged?

You have learnt how to create an effective loyalty reward program. Everything is set to be launched, but now how to promote it to get the best output! Here are five ways on how to promote your loyalty program and get your customers participate.

In the past, you are used to businesses that offer a customer loyalty program. You are possibly making use of the loyalty card if you shop at a grocery store, or perhaps, you have another one that you use when ordering for your favorite morning latte in a coffee shop. On the other hand, wouldn’t you want to provide something that is quite more interesting for your customers over a simple card swipe? Here are 6 ideas that you may consider to have the best loyalty program for them.

While loyalty programs are common to huge businesses including Best Buys and Starbucks, a small business can also gain from the wide range of benefits a loyalty program can give. Most of the small businesses focus on making their business grow and improving their services to their clients. To further boost their business, small businesses may start with a rewards program for their customers. Here are five reasons why using customer loyalty programs software give small business the competitive edge.

The competition between businesses is continuously going tougher and it became harder and harder for retail businesses to persuade their prospects to choose them and their products or services. If you are really that serious of getting new customers and you want to beat your competitors, you should realize that it’s time to give back to the community and to those people who never stop patronizing your products or services. Show them your appreciation for their loyalty to your business.

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.

A customer rewards program is not a brand new concept today. On the other hand, determining the proper way of using the collected customer data to make the customer rewards program fully customized individually for every user is somewhat of unknown territory for various brands. But, while technologies are invading the F&B industry, permitting for more customer data to be obtained and compiled, those brands that are pretty savvy will make use of this information so that they can make and come up with the best customer rewards program.