How to Create Loyal Customers
Swaying the odds in your favor
Brought to you by Paytronix.
Before digital loyalty programs, convenience stores had no real way of figuring out which visitors were likely to return. And, what’s worse, they had no way of effectively incentivizing visitors who could become loyal to return.
Today, identifying and nurturing potential loyal customers is more important than ever, since shoppers have a seemingly endless array of options when it comes to their purchases.
So how can c-stores compete? The answer is as simple as it is challenging: Get customers to meet the four-visit milestone.
Obviously, you want people to visit, and visit often. But your goals can be much more specific than that. Data shows that each visit increases the chance that a customer will visit again, effectively choosing you over your competitors.
With the second visit, the likelihood of returning spikes considerably, but it’s on the fourth visit where the likelihood to return probably peaks at around an astounding 90%. In other words, if you can get visitors to visit a fourth time, it’s incredibly likely they will keep coming back, and their brand loyalty is nearly guaranteed.
So how do you get them there? The first step to getting customers to the four-visit milestone is having a mechanism to collect information from customers. You need a digital loyalty program that lets you track customer behavior, test campaigns, engage customers and adjust promotions or programs as needed.
When you get visitors to opt into a loyalty program on their first visit, you now have the means to nurture those relationships, starting with an initial sign-up prize and subsequent, targeted messages and bonuses.
Paytronix data shows that customers who come in for their first visit have about a 50/50 likelihood of returning. The best way to sway the odds in your favor is to give guests a specific, time-limited reason to want to come back. A free offer, triggered when they sign up for your loyalty program, is the perfect solution.
A loyalty program also allows retailers to track visits. If they haven’t come in again for a second visit, “up the ante” and send an even more compelling offer to entice them in.
The key to success is to send customers the right kind of compelling offer at exactly the right time on their journey toward the four-visit milestone.
Learn more about getting customers to their fourth visits and how that milestone impacts your brand by downloading the data brief, “Discover the Proverbial Gold Mine After the Fourth Visit”.