BizSugar.com › Customer Service › Loyalty Programs: 3 That Will Keep Customers Coming Back

Attracting new customers is tough. And too often businesses concentrate all their efforts on this endeavor, when they should be focusing on driving repeat business. Current customers spend 67% more than new customers, so why not develop a winning program to reward these valuable customers and encourage frequent repeat sales? In this series, we’ll be exploring ways to create a loyalty program that will position your business for success.

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? By encouraging repeat business, you can continue to grow your revenue consistently and sustainably. However, even though most households in the U.S. have memberships in an average of 29 loyalty programs, they are actively earning and redeeming in less than half. Follow these tips to create a loyalty program that will keep customers engaged and coming back.