Loyalty programs have become the standard across multiple industries. Frequent flier miles, preferred member clubs and cash-back incentives reward customers for staying with a particular airline or bank. No business is too small to thank its regular customers in some way for their continued support, so work with your marketing company to develop a VIP program. Rewards could be as simple as a free subscription to a newsletter, a coupon or a punch-card redeemable for a gift after a certain number of purchases.
Email can be a tremendously valuable tool when deciding how to reward your customers. Split A/B testing will show you more about their preferences and help you develop a retention strategy. Do your customers make frequent small purchases? They might like a frequent-user card more than a points-based reward system. B2B customers who have ongoing needs for certain supplies could find related extras valuable – a medical center that buys your company’s latex-free gloves, for instance, might welcome new sharps containers.