Once consumers are passionate about a brand, they need different things. They certainly don’t need to be sold to anymore – at least not like they were sold to at first. Now they need to be reminded that they’re making the right choice every time they buy, and they need to feel rewarded for the decision to lock in
Brendan Ng isn’t a big fan of paper. The general manager of Vancouver-based Malay restaurant chain Freshbowl used to give out stamp cards to customers to reward repeat visits with a free meal. “We had regulars complaining their wallet was full of stamp cards from every different place,” he said.
Every business wants loyal customers for a number of reasons. From a return on investment perspective, it can cost a company five times more to acquire new customers than satisfying and retaining current ones. Businesses may use a number of metrics to measure customer loyalty, but retention rate remains one of the most critical measures of loyalty