Building Customer Loyalty Through VIP Rewards February 2, 2016 Podcast: 00:19:40
One of the most fertile grounds for increased sales can be found in a company’s existing customer base. These individuals have already passed several key steps in the sales cycle —specifically, awareness, attraction, trust, try, and buy.
The next step in the cycle is “repeat” — that is, repeat business, repeated interaction, cross-selling, and support. Catering to existing customers significantly reduces marketing costs, which to savvy marketers means they are worth investing in a bit more than typical prospects.
Today we’ll look at ways in which you can reward these customers for their support, building even stronger ties between them and your business.