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Today business success is not just about getting more customers, but equally important is how you retain them. Until very recently having a Website and a Facebook page would mean you were at the leading edge of engaging with your customers.
Now with the explosion of social media, smartphones and tablet PC, completely new routes to communicating with customers are available to businesses large and small. How well a business uses social media and takes advantage of the latest technology developments could mean the difference between building strong customer loyalty (and profits) or allowing your competitor to take your business!
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Posted on 6:24pm Wednesday 18th Apr 2012
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Go onto ‘Google’ and type in “Restaurant Week” and you will find Newcastle and London have recently held their own event or festival. In the USA it seems every town, large or small is now holding their own “Restaurant Week” to drive business in towns, cities or local neighbourhoods at traditionally quiet times of the year. It is obvious that a Restaurant Week provides a massive boast to restaurants marketing and revenue. |
Posted on 6:52pm Monday 16th Apr 2012
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If you have a bakery, deli or sandwich shop how often does a customer come in, buy just one item and them leave. If your business has a large amount of ‘one-off’ item purchases, to grow your sales you will need a substantial increase in new customers or implement some clever tactics to encourage customers to stay in your store a bit longer.
If you can keep your customer entertained for an extended period of time they may even buy three or four items from you every day.
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Posted on 10:25am Friday 13th Apr 2012
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How can you strengthen the connection between your café, restaurant or deli and your customers? One thought is to actually share your ‘trade secrets’ through recipes.
Not long ago “secret recipes” were hailed as part of the fundamental reason for a restaurant or cafes success. What ingredients went into a meal or how it was cooked were never shared to anyone outside of the family, fearing someone would copy it or ruin the idea that the person with the skill was irreplaceable.
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Posted on 2:31pm Monday 26th Mar 2012
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Here are some of the common numbers around customer loyalty.
»It costs three times a much to acquire a new costumer as it does to retain one.
»It is five* times more profitable to spend your marketing on existing customers than new ones
»By regaining 5%* of your lost customers profits can increase between 30% and 80%
*source Harvard Business School
Building a growing customer loyalty base is one of the most important elements of any businesses marketing tactics, however, many business owners miss this vital element out of their strategy. If you look at the ‘life time value of the customer’ it makes sense to grow sales through your existing customers rather than constantly spending limited marketing spends on trying to win new ones.
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Posted on 11:48am Monday 26th Mar 2012
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One of the common business statistics is it is five time more profitable to spend your marketing budget on keeping your best customers than acquiring new ones. Therefore customer loyalty should be at the heart of every small businesses growth strategy.
A study from the Harvard Business review has clearly shown by gaining back only five per cent of lost customers can increase profitability by 30 to 85 per cent. When several hundred small businesses were asked what was most important to them, “keeping existing customers” came out top at (46%) followed by “getting new customers” at (26%)
Keeping customers loyal is nothing new for small businesses, however getting a more detailed understanding of how to make the most of the new digital channels has never been more important.
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Posted on 10:25am Monday 26th Mar 2012
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Can you recall the last occasion you had excellent food at your beloved restaurant? In the event the service was poor, the dinner possibly wasn’t that memorable. Just think if the service had been flawless and the food has been average, then you might consider going back.
Don’t get me wrong the quality of your food is crucial; however this is a must have and goes without saying. Unfortunately a significant number of businesses don’t recognise that the level of service is one of the strongest marketing campaigns which will increase sales and profit.
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Posted on 11:00am Tuesday 13th Mar 2012
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You will find there’s a change happening in today’s chaotic world of advertising – a move that is taking advertisers away from the conventional ‘shotgun’ strategy of mass advertising in the direction of a very targeted ‘rifle’ approach, where businesses can customise their information to relevant customers.
Loyalty marketing offers a highly effective way to build relationships with and market to consumers on a 1-to-1 approach. Loyalty marketing can range from a basic email database and e-zine to a fully-integrated location based rewards program. More and more business now want to know how to build loyalty. Here are a few reasons why you should concentrate on loyalty marketing for your company.
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