The power of repeat business AICoaches Rewardsly 2.0
Did you know that for many small businesses, the bulk of their revenue doesn’t come from new leads but from loyal repeat customers? According to a study by BIAKelsey, a whopping 61% of mom-and-pop shops rely heavily on repeat business for their survival. With small businesses facing unprecedented challenges, maintaining a steady stream of repeat customers has become more crucial than ever.
The loyalty advantage
Enter loyalty programs—the secret sauce behind many successful businesses. Research shows that 84% of consumers are more likely to stick with a brand that offers a loyalty program. Not only that, but 62% of consumers tend to spend more money after signing up for one. Talk about a win-win situation!
The Cost of Acquiring New Customers
But here’s the kicker: acquiring a new customer can be up to 25 times more expensive than retaining an existing one. In other words, it pays to keep your customers happy and coming back for more.
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