Keys of Engagement
Updated: Oct 31, 2018
Keeping your customers Engaged at your business is the key for repeat business.
Lets go through some statistics and what we are seeing on the street. Some basic stats tell us 77% of consumers participate in a loyalty program ( Accenture ) and the average customer belongs to 14 Loyalty Programs ( Bond).
What drives Loyalty?
92% of loyal customers rank price and value as the top driver for loyalty to specific retailers, followed by product/quality at 79% and variety/selection at 71% (ICSC)
69% of consumers say choice of retailer is influenced by where they can earn customer loyalty/rewards program points whereas 57.4% of consumers join loyalty programs to save money, 37.5% to receive rewards. (Invesp)
54% of consumers consider no longer shopping with retailers who do not provide them with relevant content and coupons. (CMO Council)
So how do you keep your customers coming back? Engage your customers by providing them some simple promotion tactics.
Here is a study we did with one of our partners and these are real results. Balance Grill had a 45% App Penetration rate, 46% Annual average Visit increase per user, a 17% average check growth for app users, and a 7% YOY revenue growth after the app Launch. Now not everyone is capable of doing there own app but you are capable of using a CRM and engaging your customers at the Point of Sale. You can create a simple Points Program that is 1 Point per $ Spent and when they reach X Points they receive your offer. By gathering information from your customer you can see how many times they visit and what there favorite items are at your business. Take advantage of the data and it will help your business grow.