Small merchants reliant on customer traffic to keep their businesses open are facing an unprecedented challenge in the form of the coronavirus. In times like this, your best customers are the ones who know you well, and you know them. In normal business environments, the cost of acquiring a new customer is 7x more than retaining an existing one. What that would be today’s retail landscape is anyone’s guess. Further, a returning customer is proven to spend 67% more than a new customer.
What is crystal clear is that to weather this storm, small merchants need to focus on catering and marketing to their best returning customers to keep store traffic and sales up. The most pressing question in these urgent times is what is the most immediate and effective method to motivate return customer visits and higher sales?
This is no time for a slow-building, points accumulation rewards program.
Points-accumulation based rewards programs simply fail to address the urgent need for immediate customer return spending. Merchants need to offer their customers with immediate incentives for return visits and higher spending to maintain store traffic. Deep sales and discounts hurt already endangered margins and do little to encourage return visits and higher spending.
So what is best solution?
Merchants offering Instantly-Redeemable Rewards not only increase return customer visits, but can actually improve sales margins in the process. In one recent case study, a woman’s boutique using the Customer Loyalty Accelerator (CLA) program, increased sales to returning customers by 1500% in just 3 months. That’s exactly the kind of customer-centric, immediate results marketing approach that can help small merchants survive the present storm. CLA delivers the instantly-redeemable rewards that brings high value customers back and spending more.
Customer Loyalty Accelerator is available to both Shopify and Clover POS merchants via their App Stores. We offer a Three Month FREE Trial (yes, 3 full months free) so you can see the dramatic results for yourself at absolutely no risk.