Get a free quote on Servistree’s merchant services for your South Florida business.

5 Reasons To Start A Loyalty Program

Published November 6th, 2017 by Servistree

    1. The 80-20 Rule: The 80-20 rule simply states that 80 percent of business comes from 20 percent of customers. This rule is widely accepted amongst businesses of all shapes and sizes – generally, a small group of your customers are generating the bulk of your revenue. Celebrating, acknowledging and rewarding these 20 percent help to ensure they continue to show loyalty to your business.
    2. Word-of-Mouth Marketing: To quote Bonnie Raitt, “Let’s Give Them Something To Talk About”! Every business hopes to capture the attention of new customers, and what better way than word-of-mouth-marketing? With a strong loyalty program, you give customers something very specific to talk about. When a customer is treated as a VIP, they tend to want to tell everyone. “I got a free cup of coffee today,” If your loyalty program is fun, engaging and rewarding, you’re sure to get people to talk about it!
    3. Customer Retention: Loyal customers tend to stick around through the good times and the bad. Many companies focus on getting new customers, but keeping those customers you’ve already done business with is imperative. A loyalty program ensures your business continues to focus on the customers who continue to transact with you.
  1. Invested Customers: Loyal customers care about more than just transactions, however. They want to see you succeed and genuinely care about how both you and your business are doing. Your loyal customers can provide honest and constructive feedback and look out for you during a crisis. They share success stories and provide useful referrals. Loyal customers are on your side!
  2. A Competitive Edge:If your competition has failed to implement a customer loyalty program, you’ve got a serious competitive edge. With a strong loyalty program, you’ll make it easy for consumers to select you over businesses that do not reward and acknowledge their loyal customers. People choose to do business with those who appreciate them, listen to them and value their business.

To learn more about how Servistree can help you develop an effective loyalty program call 1-866-944-3244 or Keep up with the latest news and information and other small business news by subscribing to our blog by clicking here.

‹ Back