Did you know it costs a business about 5-25X more to acquire a new customer than it does to sell to an existing one?
Not only that, but existing customers spend 67% more than new customers. In short, customer loyalty really pays off — and customer loyalty programs end up paying for themselves.
If your main focus is getting more new customers, but you neglect the one’s who support you most, how do you think that’s going to impact your business?
You’ve probably seen real-life examples of this. Maybe you’ve been a long-time cable/internet customer who spends $150/month on services, only to find out that Mr/Mrs. New Customer can get the SAME thing for $99/month. Doesn’t make a very good impression, does it?
So, now you’re thinking, “I get it, but HOW can I build customer loyalty into my e-commerce store”
I’m glad you asked!
One great way, is with Yotpo
With Yotpo’s Loyalty and Referral tools, you’ll reward your customers for the actions that have the most impact on your business with a variety of customizable campaign programs.
Now that you have a starting point, go show some love to the customers who love you!
“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”- Sam Walton