In a material world, this is the obsession of many business owners. And in order to get it, they try many things. Most of these revolve around gaining new business through promotions, special offers, discounts, referrals, and more. But while most owners are chasing new business, they’re overlooking a far more reliable and profitable source of new revenue: current customers.
“Current customers? I already have them! I need to increase revenue, not solidify my current revenue streams.”
Focusing on current customers CAN increase revenue. Just because a person already knows about your business doesn’t mean that they’ve maxed out their usage capacity for your products or services. Instead, current customers are one of the most cost effective sources of new revenue available to your business, because repeat shoppers spend more and are far easier to persuade than strangers. In fact, as one marketing strategist and author reports, repeat shoppers can spend up to 33% more than first-timers.
So, how do you get current customers to spend more? A simple strategy: start a loyalty program using your app!
With Hostpuppies.com Apps, loyalty programs are included at no extra cost in your monthly bill, and they’re quite powerful for increasing the revenue you get from your existing customers. According to a recent study by the National Restaurant Association, 72% of customers say that loyalty programs are “extremely” or “very likely” to drive repeat business.
The logic is fairly straightforward. If a person already likes your current offerings, they’ll like them even more when they get rewarded for making purchases or for visiting your location. And that’s just how a basic loyalty program works.
We’ve all used one before. The most popular example is a program that rewards customers after a certain number of purchases. For example, “Buy 6 Ice Cream Cones at 7th Heaven Creamery and you’ll get the 7th Cone Free!” The count is usually kept on a punchcard or stamp card.
A Hostpuppies.com Apps loyalty feature operates the same way, just virtually.
Instead of a physical punchcard or stamp card, each user will track purchases through your app. When they make a purchase at your location, they can pull up the loyalty program tab and your team members can tap the screen and enter a simple code to record the purchase. The purchases will then be tallied onscreen. When the virtual card is “full,” your team members can process a redemption and reset the card.
Your customers will love it, and will probably spend more at your business after implementation. And it’s already included with your Hostpuppies.com Apps mobile app subscription! Give it a shot, and you’ll be glad you did.