The formula for a successful business is to get repeated customers. There are a numerous factors involved for getting repeat customers: pricing, quality of products and services, excellent customer service etc. But one of simplest and best ways is to reward your customers, give an incentive, and they’ll come back and buy more.

Here are three effective customer reward programs you could implement:

Number Of Purchases

This program is based on the number of purchases made by any customer. You could give away a free product or service to any customer that makes ten or more purchases.  To make the program more effective you could require a set time period that all ten purchases must be made by.

Dollar Amount

You can require a certain dollar amount be spent before the customer receives a reward. Tell customers if they spend over $50 in one month at your website they get a 50% discount on their next purchase. You could also just reward one customer who spends the most every month with a bigger reward like a vacation trip.

Points System

Reward customers a point for every one-dollar they spend.  Let’s say customers can get a free computer for 300 points.  That means customers will spend $300 dollars on your products and services to get enough points to get the free computer. To push slower selling products or services just offer more points per dollar spent for those particular items.

The kind of rewards you give should depend on what your business can afford. Cheaper rewards could be gift certificates, coupons, clothes, or movie passes. Expensive rewards could be jewelry, vacations, bed and breakfast gift certificates, electronics or computer equipment.

You may want to invest in a good database program to keep track of your rewards program. Contact a legal professional for help to set-up structure of your rewards program.

It is important that you always put your customers first and constantly do your best to adapt to their expectations and needs. Remember- it is much cheaper to keep your existing customers than finding new ones.

Business Quote of the Day:

“Success is simple. Do what’s right, the right way, at the right time.” — Arnold Glascow

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