Your customer shouldn’t be a one-time buyer but a lifetime buyer of your product. Customer retention is as important as bringing new customers to your doorstep.
Customer retention is 7 times cheaper than attracting new ones.
A proficient POS can handle this task more smartly than anyone in your team. Customer profiling and their purchase data help POS to send loyalty programs, redeem offers, and gift cards.
As per the research 45% of the retailers never see their customers again?
Do you know why? Because:
> They don’t know how to manage customer loyalty effectively and find it a difficult task
> They think retaining a customer is less profitable than spending on advertising and marketing to get new ones.
If you think the same way then it's high time to change your way of doing business. Keeping loyal customers who buy your product repeatedly is more profitable than attracting new customers. The reason behind this is that you have to spend less time, cost, and effort convincing customers as they are already aware of your product and services. You just need to give them a reminder to get back to you. That’s where loyalty programs work as the offers initiated on regular basis never let your customers forget you. In fact, loyal customers are most likely to spend more when revisiting your store, café, or restaurant, considering their experience and expectations. Also, loyal customers can invest in more expensive items because they are comfortable buying from you. Customer loyalty paves the way to higher profits for your business and it can be done conveniently with the help of a reliable and efficient POS system.
Well, it’s a good question and I have a detailed answer for that. Here are the few methods used to retain customers and increase their level of trust in the business.
Rewarding your customers for doing big spending in your retail won’t hurt your profit yet it is another trick to keep such customers your loyal customers. Especially when they frequently make a purchase.
The infamous redeemable points or store credit over every purchase are the ideal offers that your POS system can automatically generate while observing the buying behavior.
Your POS system should be equipped with the ability to assign points or credit with every purchase and store them in the customer’s profile. This way customers can claim them whenever they feel they should redeem or collect them.
These customers can be marked as special or VIP customers by the POS so that these rewards can be distinguished for them only. POS can generate Thank you message along with the discount coupon or issue gift cards on touching a certain limit. Such rewards convince the customer that they are appreciated for their behaviors and can potentially bring them back for the next purchase.