Focus on Retaining Customers via Loyalty Programs
According to the infographic, acquiring new customers is six times more expensive than retaining them. Loyalty programs can help you focus on retaining these customers by creating incentive, rewarding consumers for their repeat business.
"Loyalty programs are expected to generate $1.7 billion by 2015,
compared to the $300 million generated in 2011"
Accepting Major Credit Cards
Given the rising number of people who use credit cards as a primary form of payment, companies need to adapt in order to avoid missing out on remarkable opportunities. Accepting most major credit cards makes the purchasing process easier for consumers (and often times quicker). Along with accepting credit cards, PayPal is also becoming a popular payment method.
"55% of American businesses do not accept credit cards,
resulting in a loss of $100 billion annually."
Mobile advertising is expected to rise by as much as 400% over the next four years. With more than 1 billion smartphone and tablet purchases projected for 2013, mobile marketing will serve as a valuable tool for retailers.
by Samantha Warner