Keeping your existing customers has a much bigger impact on your bottom line than reeling in the new ones. That's because longer business relationships mean bigger sales and it costs less to keep an old customer than to acquire a new one. By making a customer loyalty program a part of your business plan, the experts say. Va. The price of loyalty Loyal customers are your best customers.
New customers are costly customers.
You have to lure them with advertising, and once they're in the door, they need more help. Software buyers, for example, call the help desk more in the first 60 days than they do in the next 60 months. Loyal customers buy more and are less price-sensitive than new customers. Loyal customers refer friends to your business. A good customer loyalty program should recognize your customers and thank them for their continued business.