Sales promotion: The loyalty program
Did you know that it costs you 7x more to acquire a new customer than it does to keep the ones you’ve already got?1
A loyalty program is a great way to show your customers that you truly appreciate their business.Typically, a loyalty program works by o ering your customers a freebie, once they have spent a certain amount of money in your online store.
So naturally, a loyalty program will provide an incentive for customers to keep shopping at your store.
Starbucks has always gone against the grain, and their loyalty program is no exception. It’s highly regarded as one of the best loyalty programs of all time, so let’s take a look at what we can learn...