The Best Way to Build Your Loyalty Program
There is no shortage of evidence that it pays to keep SMEs current customers loyal. One well-known data point from Bain & Company: a company must spend up to 7 times more to acquire a new customer versus retaining an existing customer.
Strategic customer relationships drive growth and market share. Customer loyalty is the key to increase the value of your customers. Loyal customers increase company sales organically and increase the effectiveness of every marketing dollar invested. An existing customer base is more inclined to be interested in new products, and subsequently spend more on company brand. They are also more likely to recommend your brand to others.