Customer Retention rate is the rate at which customers returns to your retail business) is an important figure for retailers. For example, a business with a 60% customer retention rate has on average between 3 and 4 times less customers as a business with 80% customer retention rate. Many retailers therefore invest in making sure the customer comes back again next time. Posterita is here to help you to take on the challenge of increasing and maintaining high customer retention rate through the customer loyalty program.
A customer loyalty program let you reward the customers who frequently purchase from your store with loyalty points. In doing so you will significantly increase the chances of your customers returning to your store and it will also make your store stand out from the competition. The level of enthusiasm and satisfaction will increase significantly and that will lead to an increased level of engagement from your customers. It gives them a rewarding reason to carry on making future purchases at your store.
There are also great benefits to you as the retailer in having your best customers in a loyalty program. Every transaction made is recorded. You are able to analyse the behaviour of a specific group of customers. This knowledge can be used to cater to your customers better and ensure they are satisfied when shopping at your store. For example with the transaction details you gathered you will be able to give the best offers, product baskets or savings suitable for your customers. In this way you will be seen as a store attending to the needs and wants of your customers. Furthermore, you can strengthen your bond with your customers through sending them personalised offers directly to them by email.
With the customer loyalty program designed by Posterita you are able to build a strong relationship between your store and your customers. You can offer them rewards for shopping and adjust your store to cater to your customers’ needs and trends effectively. With happy customers, both your customer retention rate and your customer base will grow and stay high.