Did you know that Starbucks, the global coffee giant, was able to boost its profits by over 26% percent in the second fiscal quarter of 2013 with the help of their â€œMy Starbucks Rewardsâ€ loyalty program? It isnâ€™t very hard to find customers and get them to buy from you, but itâ€™s a different ball game altogether to keep them coming back to your business. Generating brand loyalty among your customers isnâ€™t too difficult in this digital age, and it is something that even small businesses can do on a shoestring budget.
An increasing number of businesses are implementing loyalty programs through apps, on both the iOS and Android platforms. Here is how you can boost business revenue by appealing to your customerâ€™s sense of loyalty with the help of your app:
Boost Revenue by Building a Personal Connection with Customers
Market research suggests that customers that keep coming back are likely to spend about 70% more on purchases or services than first-time customers. A loyalty program is a perfect way to build a personal connection with customers and appeal to their emotions. Itâ€™s a way to say thank you to customers that keep coming back, by giving them a discount or some freebie, which will make them feel better about your business and much more likely to buy from you again.
A Loyalty Program Helps You Stay Toe To Toe with Your Competition
Retail giants and other big companies have huge budgets, access to more sales locations, and a big team to solve problems or promote products and services. Big businesses are also able to offer products at discounted rates. Keeping up with large corporations is extremely difficult for small businesses. A loyalty program can help you stay toe to toe with the competition by focusing on providing a heartfelt service which makes your customers care about you.
You Donâ€™t Have To Break the Bank to Build a Good Loyalty Program in This Digital Age
Many small business owners mistakenly assume they have to sink large sums into loyalty programs. Thanks to apps, though, itâ€™s possible to create cheap programs at an affordable rate.
Are you on the fence about getting an app for your business? Itâ€™s almost a necessity to have an app these days, and weâ€™re not even talking about business promotion or marketing â€“ you need an app just to keep your customers from defecting to an easier-to-access competitor that has an app. If you want to build a successful app, do so with the help of the experts at Openwave and generate huge ROI!