Growth Is Good… But Retention Is Forever.
Customers are the lifeblood of a business, as a company cannot generate revenue and earn a profit without customers. It is, therefore, vital that businesses create a sense of loyalty among customers for their brand.
Let’s say that you have noticed your business wasn’t acquiring as many new customers, and you wanted that to change. So you have spent the last few months putting together a hard-core Ad words campaign, setting up customer re-targeting, and promoting your social media messaging. All of that is great, but the reality is that the customers you attract from those promotions are not nearly as profitable as the customers you already have. I know it sounds harsh, but it is the truth!
Here are some facts about customer acquisition stated by Harvard Business School –
Businesses have to spend approximately 500% more resources to acquire new customers than they do to keep the existing ones.
More than 82% of all the companies agreed that retention of customers is cheaper to execute than their acquisition.
The problem is that the average e-commerce store devotes more than 80% of their marketing budget to the acquisition, and retention takes a back seat. 40% of an e-commerce store’s revenue is created by 8% of its repeat customers, and they are extremely profitable!
Loyal customers create stability in business operations. Repeat customers are crucial for the success of any business, and losing customers is considered a reliable measure of failure since without customers there can be no business. The stronger the relationship a customer has with a business, the greater the potential for that business to increase the level of revenue from that customer over time. Also, satisfied customers help recruit new customers through positive word-of-mouth communication. The most effective marketing strategy for a business is often to satisfy current customers who become strong voices in the marketplace.
Keeping customers satisfied also means that they are likely to bring more customers to a business by word of mouth or verbal referral, especially if their loyalty is rewarded
DO YOU HAVE A HANDY SOLUTION TO REWARD YOUR LOYAL CUSTOMERS?
So, focus on your current customer and their satisfaction, because an engaged customer spends a whoopee 16% more ….so here’s a question, DO YOU SATISFY YOUR CUSTOMERS?
Well managing these many customers is not that easy when you have a huge customer list. So, here Doboz comes to help you to create an outstanding customer experience that meets exceptional customer service and engagement.
Easily integrate and use vouchers discounts, get service with minimal complexity with the DOBOZ.
DOBOZ lets you retain customers, employees & channel partners. We help you to keep your Cash Register Ringing. We Provide:-
Loyalty Program: Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially beneficial to the firm. Loyalty programs help you target your customers and bring them back. A Loyalty points program is a fantastic way to acquire, engage customers and let them return more often. Make your Customer Base strong and increase your revenue by focusing on your loyal customers. But setup and management of a Loyalty Program can require increased staff and professional fees, items that might make the threshold for return on investment difficult to overcome and here Doboz solves the problem.
Gift Cards: Gift cards are essentially value-stored money cards given with the intent of gifting and redeemable at the merchant store which is issuing the same. Make an engaging customer experience in small ways, let them easily spend and boom your Businesses cash flow by making personalized gift cards of your brand with the intent of retention. Get Gift Cards for every occasion and encourage purchases by sending them in bulk. Doboz can help you achieve this effortlessly.
Reward Management: We at Doboz provide Digital solution which will streamline the employee rewards and recognition program of your company. We have E-Gift Cards of over 75+ brands all under one roof and the list keeps growing with time. Businesses can even opt for the exclusive branding of their gift card or directly send the credits to let your Employees decide on which gift card to pick. Our USP of giving cash-back on the “unclaimed gift cards” would definitely help in utilizing the buyer company’s resources more effectively.
Referral: You can now Reward your existing customers when they refer their friends and family to your store. Making it more effective, reward the sender as well as the receiver, in this way you retain the old customer as well as acquire a new customer. Was that not a total Win-Win situation? Doboz let you create your Own Referral Campaign, to turn your existing Customers into powerful marketers.
Coupons/ Promo Codes: The online coupon seems like a simple, straightforward way to increase conversions. Use coupon codes to spur sales, build affiliate relationships and more. Doboz makes easy to read codes which can be redeemed multiple times that gives you an extra edge in running promotions on social channels and general marketing.
Analytics: Doboz provides you accurate information of redemptions made for each voucher so you can keep a track of what is working for you. View current and historical data, and drill down into your transactions. Filter around specific behaviors for marketing, support, fraud prevention and accounting.