Customers who have entered into a relationship with a company generally expect recognition. Customer retention and loyalty are very rewarding and loyal customers are a valuable asset to any startup company.
Loyal customers should be rewarded for their patronage. Whilst recognition plays an important role in rewarding customers, tangible reward systems can help to build customer loyalty
What are some ways that you can reward customer loyalty?
1. Offer discounts for high-spending customers.Marketing Donut “Ten ways to reward loyal customers.“
2. Create a loyalty/membership program.
3. Give away free items with multiple purchases.
4. Team up with an associated business to offer reciprocal discounts.
5. Invite customers to trial new products and services.
6. Consider doing a preview.
7. Take your best customers for a day out.
8. Offer preferential service terms.
9. Offer additional products and services at a discount.
10. Reward introductions and referrals.
Giving special offerings, discounts, and buying opportunities to regular customers demonstrates that you value your customers and encourages them to continually use your service or buy your products. Showing how you appreciate your customer helps in differentiating yourself from competitorsand builds a good relationship with your target audience.
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