Yes! Loyalty programs can increase your sales and profits.
Consider these three stats about how loyalty rewards programs increase sales:
- 75% of consumers claim they are more likely to make further purchases with a brand after receiving an incentive.
- Customer loyalty programs can increase customer retention by 5 percent, which can boost profits by an impressive 25 to 95 percent for some businesses.
- Just by offering your customers a customer loyalty program, an eCommerce platform could potentially increase its average order quantity by a massive 319%.
One of the biggest fears that many business owners have about loyalty programs is that it will cost them more than they’ll earn. See how the Liquid Cash WePay Rewards Program can increase sales here…
Though a loyalty rewards program may have some upfront costs, it will ultimately increase sales and profits.
Plus, there are ways to choose a loyalty incentive that is low cost and set up the mechanisms of the loyalty program to ensure you end up with a net positive return on investment (ROI).