Customers love being appreciated, and rewards are a show of appreciation. The loyalty a business owner has to his or her customers makes the difference in a business as customers feel they have more than an outlet to purchase but are part of a family. According to Pareto’s principle, 80 percent of a business’ sales come from 20 percent of the customers. Invesp reports an increase in 5 percent in customer loyalty can increase profit per customer as much as 100 percent. Rewarding customers is a way to increase loyalty and increase sales.
With today’s market, the competition between business’ is great and companies need to find an effective way to keep loyal customers, gain new customers and increase sales. Customer loyalty programs and promotional items are a way to achieve the goal. One giveaway with a purchase on a website can make the difference of a sale, and a great introduction to a company for new customers. There are lots of possible giveaways such as health and beauty products that a company can provide. There are wonderful giveaways to share such as bathrooms bags or even a sunscreen tube.
Loyalty programs are influencing buying influences. Over half of the businesses state that customer retention is their biggest obstacle, making promotional items a great marketing strategy. Stats show that 82.6 percent recipients of promotional items recall the company and brand on their promotional product, and most items are kept from one to four years, creating a continual advertisement for your company. Promotional product giveaways also lead to increased business with as much as 11 percent or more from customers that had not previously done business with the company. So companies should not hesitate to provide free or discounted stuff occasionally. They can provide cats and hats or sports or outdoor stuff.
Consumers are looking for businesses that show their gratitude whatever the amount. Free shipping and incentives and promotions to purchase and customer loyalty programs are the current trend consumers look for when doing business with a company. Infographic states that loyalty programs are influencing buyers choice in doing business with a company. The goal among consumers is to save money and receive rewards for shopping, and consumers are willing to change their buying behavior to reach higher levels of customer loyalty programs.
A business needs to concentrate on strategies to gain customer retention. Loyalty programs and promotional product giveaways are two strategies that are effective. The goal is to increase business through rewarding customers that leave an impression that promotes a positive image of your company- one that creates loyalty. Great products, fantastic customer service and the occasional promotional giveaway and loyalty program can achieve fast results.
Promotional giveaways like giving away home and garden stuff like a charcoal grill is also a strategy to promote brand recognition. The bottom line is that businesses need to be aware of strategies that work. Strategies that make a difference to their business. Strategies that increase brand awareness and increase sales. Promotional product giveaways and loyalty programs have proved to be two of the best marketing strategies that make a difference in a company.
