Tuesday, September 4, 2012

The Importance of Customer Retention

When my wife and I lived in the Philippines we owned a small store selling dry goods and vegetables.  We built that store from the ground up and after opening we did our best to attract new customers and grow our business.  One thing that all of this taught me is the importance of customer retention.  It is ofttimes said that it takes more effort to attract a new customer than it does to retain a loyal one.  This is true in both time and money spent and such loyalty has it's own rewards as a loyal customer will be the best advertising you can get.  You don't have to pay for such advertising as a loyal customer will pass along their good experience at your store by word of mouth.

Now our store was a small scale operation, for larger operations it is important to have customer retention programs  such as those offered by Kobie.com.  Kobie is well known in the arena of loyalty programs and has many of the biggest names in business as their clients.  They will be able to custom fit a loyalty rewards program to fit your business' needs so that you can concentrate on keeping your customers coming back again and again.  If advertising your business is a large part of your budget, then you should consider setting aside some of that for retaining the customers you already have.  In this economy it is important to keep your customers so that you can continue to drive sales.

The market is bad right now, we all know this so now is the time to start offering incentives to keep your customers coming back again and again.  A properly tailored customer loyalty program will do just that, offering a real incentive for the customer to shop with you again.  Furthermore, that customer will express by word of mouth, their happiness at your loyalty program to their friends, potentially driving more business to your doors than could be accomplished with advertising alone.  Everyone is looking for more "bang for their buck" these days and a loyalty program offered by Kobie will do just that for your customers.

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