Six Tips to Help Small Businesses Drive Loyalty

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Embrace social media

Almost 75 percent of Americans use social networking sites. To build loyalty with your customers, engage them where they already are. Nearly four out of five people say they would like to receive offers, promotions and information about events from the companies they follow on social media. Take advantage of this fact and give the people what they want by providing in-store benefits to loyal customers who "like" your business online. Many stores and brands are finding ways to use social media to bring customers into the store, from the more common tools, such as a discount for "liking" a page to more unique tactics like those employed by Lay's, which had fans vote on a new chip flavor for the company to produce, increasing their affinity for the company by giving them a say in new products.

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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