Why Small Businesses Should Invest in a Customer Loyalty Program

1. Why a Loyalty Program is Important For Your Small Business

2. Introduction The idea behind a customer loyalty program is quite simple yet powerful – rewarding customers and increasing repeat purchase rate. For instance, my starbucks rewards, the reward program of the coffee giant, significantly drives the company’s record growth by gifting points to customers for making purchases. Starbucks claims that its loyalty program had 16M active members in march 2019, with an 11% increase in the customer base in Q2 2018. Like large companies, loyalty programs are also imperative for small businesses. Whether the goal is to enhance customer loyalty or boost sluggish revenue, a well-designed loyalty program serves as a boon for all kinds of businesses, regardless of their size. Here we have shed light on a few reasons why you should also turn to customer loyalty program software for your small businesses.

3. A Repeat Customer Has a Lot to Offer As said earlier, a loyalty program can increase repeat customers, which, in turn, enhances your business’s revenue. A repeat customer spends 67% more than a new customer. And they should be rewarded with exclusive points or coupons for this action, as retaining customers is less costly than acquiring new ones. Besides, rewarding customers is the best way to appreciate them and motivate them to continue to be your brand advocates. They can also spread a word about your business on their social networks, helping you increase customer base even more.

4. Stay Competitive in the Market Given that large brands have more resources, locations, amount to invest, and the ability to offer lower prices, it can be hard for your small business to compete with them. However, launching a loyalty program is an easy way for you to stay competitive in the market dominated by giants. For instance, many customers may not love the coffee at a big brand but love the fact that they can earn points for making purchases at their store. To gain a competitive edge, a small coffee shop can offer good quality coffee and reward points to give customers a reason to return to your store repeatedly.

5. Loyalty Programs are Not Expensive While some businesses spill a lot of money into them, you don’t have to follow the same strategy to obtain promising outcomes. Loyalty programs don’t cost a fortune to businesses. A cost-effective program launched by small businesses is as beneficial as placed by big players. A customer loyalty program software named cheerme has way lower subscription rates than other loyalty program providers. Moreover, a reward program allows you to earn more than invested as earned reward points encourage customers to shop 2.5 times more than customers who don’t have points in their bag.

6. Get In Touch With US: Cheerme is the leading tier-based loyalty program provider, which helps businesses to build an emotional connection with customers through surprise and delight. With our customer loyalty program solution, you can gift exclusive points to your customers for on-site or in-app actions including, signing up, placing an order, etc. And these points can be redeemed by the customers in the form of discount or coupons on their next purchase. Thus, cheerme can encourage your customers to shop more from your online store and give them a reason to stick to your brand. Contact us • Email:connect@cheerme.Io • Phone: +91-8264829512 • Website: cheerme.Io/