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Customer Retention

Customer retention

The first stage in any strategy should be to improve customer retention and growth – this is because existing customers provide the greatest return on investment because they are:

5x
as likely to repurchase
4x
as likely to refer
3x
more will buy a new product
5x
as likely to forgive
7x
as likely to try new things
5%
the cost to sell to
20x
profits per 5% + retention

Customer loyalty programmes enhance customers relationships with you through looking to improve the overall customer experience, developing a closer relationship and changing behaviours through rewarding: larger spends, more frequent purchases or through additional activity such as referrals, survey completion etc and can help build retention.

Typically seen as either digital or physical loyalty cards that drive change through offering rewards or discounts plus provide invaluable marketing intelligence – a customer loyalty programme can do so much more to reduce churn, increase retention and build profitable growth.

Loyalty programmes can also offer a very high perceived value at a very low cost and customers talk about them – providing an excellent means for them to recommend your company to friends and family.

how we can help

In addition to direct purchase incentives, promotions can be used in a wide variety of other methods of driving your sales
including:

  • Strategy and advice
  • Data analysis
  • VIP benefits
  • Third party discounts
  • Reward banks
  • Points management and portals
  • Technology and software
  • Recruiting members as mystery shoppers

Book a 15 minute call or Zoom HERE with one of our consultants

Orangutan TM Ltd - Registered in England No. 4187854 at Lodene Southfields Road, Woldingham CR3 7BG
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