Five Tips to Attract and Retain Customers with Mobile Technology
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Right now, there are approximately 18 different loyalty program memberships per household in the U.S., but only eight are actually used each year.
Let’s look at this from another perspective. In 2011, loyalty programs generated $300 million in revenue. This number is expected to reach $1.7 billion by 2017.
There is an incredible opportunity for businesses to boost profits while retaining existing customers through loyalty programs. Mobile technologies have made this even easier for merchants today as a result of the convergence of payments and marketing. This convergence gives merchants deeper insight into the purchasing behaviors of their customers, so they can deliver more targeted discounts, coupons and loyalty programs. Mobile capabilities also offer merchants the opportunity to push out mobile loyalty offers to drive new customers through the door.
Today’s consumers are smarter, more empowered and better connected than ever before. With competitors only a few clicks away, few businesses are actually the “only game in town,” making it increasingly important — and challenging — for merchants to attract and retain customers.
The businesses that will come out on top are the ones that learn how to harness the power of mobile technology to attract and retain customers. Here are five tips, identified by Henry Helgeson, CEO of Merchant Warehouse, to get those customers coming through the door.
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