If you’re a local business who wants to drive repeat purchases from your best customers, this a loyalty rewards program.
It’s hard to overstate the importance of customer retention. For one thing, studies show that it has a much better ROI than trying to acquire new customers.
Did you realize that…
- Acquiring a new customer is 7x more expensive than retaining an existing one.
- Compared to new customers, existing customers are 50% more likely to try a new product and spend 31% more on average.
- Retention has 2-4 times more impact on your growth than acquisition does.
- A 5% increase in customer retention can increase profitability by 75%.
This makes sense when you think about it. After all, your customers already know, like, and trust you. They demonstrated that when they laid down their hard-earned money to purchase your product or service in the past.
And if you want to grow your business profits, you’d do well to take great care of these people and give them a great reason to keep coming back to you—again, and again, and again.
Turns out that Messenger Marketing with ManyChat is a fantastic way to do just that.
In this strategy, you’re going to learn how we at Messenger Marketing Experts used a technology stack of ManyChat, Zapier, and Mobile Wallet (Apple & Android) to create multi-tiered rewards program that drives customer loyalty and repeat purchases.
Let’s get to it!
Taking a Cue From the World’s Biggest Brands
How do we know that loyalty programs and rewards programs work?
Well, take a look at what many of the most successful companies in the world are doing.
Big brands like Starbucks put a massive amount of resources into creating their rewards programs because they’re acutely aware of the immense value of encouraging repeat business from their best customers.