As per Harvard business review research, improving customer retention rates by 5% boosts profits by 25% to 95%. In general, it costs 5X more to acquire new customers rather than retaining existing customers. Customer retention adds lifetime value to your brand, which brings enormous benefits to your company. Have a look at the key benefits […]
read more
Do you know repeat customers have a higher lifetime value for your business? It costs 5x more to acquire new customers rather than nurturing existing customers. So, successful businesses across the globe put their endeavors to retain more and more existing customers. Further, about 65% of a company’s business comes from existing customers. Hence, it’s […]
read more
Did you know that it costs up to five times more to attract new customers compare to retain the existing customers? It’s a wise idea to nurture existing customers rather than investing more in bringing new consumers to your business. Brand loyal customers are willing to buy from a particular brand again, and again. Often, […]
read more
Complacency has no place in selling. Today’s shoppers are not only smart; they are fickle unless you keep them engaged and hooked with appropriate loyalty programs. It is a good idea to offer quality products at reasonable prices backed by excellent services but that alone will not work in today’s environment. You need a program […]
read more
Every brand and business offering loyalty program knows that it takes long to see results. It is because it takes a while to organically earn customers’ trust and prove that the loyalty plans are worth their time and efforts. In most cases, it can be a gamble! The success of loyalty programs relies on vast […]
read more
Businesses in the healthcare sector and fitness industry incessantly deal with surprises. Customers or patients sign up and sign out of health care and fitness programs as per their preferences and priorities. The lack of assurance for customer loyalty and high cost of new customer acquisition is the ugly turn off for businesses which are […]
read more