Six Tips to Help Small Businesses Drive Loyalty

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Employ technology to develop loyalty

Most small and mid-tier businesses can't experiment with a lot of new technologies, since this can be time-consuming and expensive. One way to balance risk and reward when it comes to technology is to focus only on those solutions that can improve your relationship with customers. For example, with 1.4 billion smartphones in the world, there's a major opportunity open for mobile loyalty programs. Seventy-three percent of smartphone users say they are interested in interacting with loyalty programs through their mobile devices. With research showing 75 percent of business leaders are expanding their use of digital channels to deliver targeted and personalized offers to customers, it's important to look for meaningful technology-based loyalty programs that can help you stand out.

Today's market can be tough for small and mid-tier businesses, because big-box stores often dominate consumer attention with low prices and large inventories. While 82 percent of small business owners admit loyal customers are the main way they grow their businesses, 61 percent of retailers say customer retention has become more difficult and building customer loyalty is challenging. To compete, smaller businesses are required to think smarter where big-box retailers think larger. That's why loyalty programs are more important for small and mid-tier businesses than ever before. Here are six tips, identified by Chris Wuhrer, senior vice president of strategic initiatives and product marketing at Cayan, to help small businesses drive loyalty.


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