Tiered Loyalty Programs

Why is loyalty so important?

There is an art to keeping customers. It costs seven times as much to find a new customer as to retain one, and so you need to explore all possible methods if you want to maximise your customer base.

How do you keep customers coming back? How do you create fiercely loyal customers who will turn a blind eye to your competitors? And what can you learn from successful loyalty programs in businesses both large and small?

Loyal customers represent your business’ goodwill and they are intangible assets that add value to your balance sheet.

Critical questions clubs should ask themselves:
  • What proportion of your customers are repeat?

  • How much is a loyal customer worth to your business over time?

  • How much time do you currently spend winning new customers vs. nurturing existing ones?