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90%+ of the UK population hold at least one loyalty card which translates to (assuming there are 61 million people in the UK and 80% are aged 16+) about 44 million people. Source: Aurora
- Retaining customers is good for business
Existing customers typically spend more than new customers. Creating a loyal base of customers is good for business.
- Loyalty doesn't stop at your customers
Your customers expect a consistent level of product quality, service and price without loyal suppliers and loyal staff your business will be compromised.
- Invest time in understanding more about your customers
Make sure you have a clear view of what your 'best' customers look like. With that knowledge you can find others just like them.
- Customers expect dialogue to be relevant
Use your knowledge about customers to make your communication more relevant. Customers value that recognition and it may be a point of difference versus your competitors.
- Acquire the right type of customers
Use your insight about existing customers to help define what types of customers you wish to acquire.
- Rewarding the loyalty of your existing customers will pay dividends
It's tempting to keep the best offers for tempting new customers or convincing existing customers to spend more. Sometimes it just pays to recognise existing behaviour as the 'feel good' factor will be repaid with repeat business.
- Being top of mind makes buying easy
Ensure your business is always top of mind - a timely note pinned to an invoice ensures regular customer communication and can be enough to prompt repeat business.
- Lock your customers in by making the buying process easy
Sometimes lengthy paperwork can be off putting and a potential barrier to repeat customers. Think about how you can make it easier to purchase for your key customers.
- Ongoing measurement justifies the investment
Rewarding the loyalty of your customers is a long term activity and will come at a price. Try and establish clear objectives and measurement against those
objectives. This will enable you to assess your investment over time.
- Practice what you preach
Make sure that encouraging loyalty is not only used as a marketing message. Consider it as important as product, price and service.
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