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Old 14th July 2015, 06:10 PM   #1
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Join Date: May 2010
Location: Detroit, MI
Posts: 1,262
Default 360 Degree Customer Loyalty Platform By MoPals

It costs 6-7 times more to acquire a new customer than to retain an existing one. A loyal customer can also bring considerably more repeat business compared to a new customer. No wonder businesses of all types and sizes are rolling out the red carpet for their loyal customers. Despite their efforts, businesses tend to lose an average of 10-30% of their customers annually for variety of reasons, which is why itís in their best interests to maintain customer loyalty.

Businesses have understood the importance of loyal customers for a long time, using a variety of tactics and programs to attract and retain loyal customers. Some examples of such programs are loyalty cards, repeat customer discounts, punch cards and so on. The proliferation of Smartphones and mobile technology has given rise to a new breed of loyalty programs that are much more powerful than the ones that have been introduced in the past. Well-known companies such as Starbucks and Best Buy have significant resources and marketing muscle and have been in the forefront of these mobile loyalty programs, and have reaped great rewards as a result.

Read more - http://www.smallbizviewpoints.com/20...orm-by-mopals/

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