Increase customer repeats
Did you know it costs a business about 5-10X more to acquire a new customer than it does to sell to an existing one? Not only that, but on an average, current customers spend 67% more than new customers.
Increase customer spending
Inside of every old customer is a new customer waiting to break out and spend more money with you. Through the decades researches have consistently shown the probability of successfully selling again to an active customer is 60-70 percent. Far above the 5-20 percent probability of making a sale to a brand new prospect.
Higher customer retention rate
Your customers are not all equal. Roughly speaking, 80 percent of your revenue is being generated by 20 percent of your customers. Collect your sales data and identify your best customers and what they’re buying. Start recognizing them and say thank you. Retaining your existing loyal customers is the single most important aspect of any customer loyalty program.
Acquire new customers
Deploying a loyalty program which works for you will result in a loyal customer who makes regular repeat purchases and demonstrates immunity to the pull of the competition. Using tools like refer-n-earn you can easily convert this customer now to join your sales force.
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Eat Fit, Head Operations
Amuleek Singh Bijral
Chai Point, CEO
Chili's India, CEO
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