A loyalty program may seem like a lot of work with no immediate payoff. You may be thinking that it isn’t worth the effort when you already have a $3 express wash and free vacuums to bring in more customers anyway. However, the benefits of a loyalty program may be more tangible than you think. Here are a few reasons to invest in this increasingly popular marketing strategy.
Increase customer retention – Did you know that a mere 5% increase in customer retention can boost profits by 25% or more? The fact is that the most lucrative asset is the customer who comes back again and again. It costs less to retain existing customers than to acquire new ones, so that makes a loyalty program a very profitable strategy.
The largest age group is the most loyal age group – Millennials have surpassed boomers as having the highest population of any age group. Statistics show that millennials are the most likely age group to select a brand and stay loyal to it. That means a loyalty program can help you to target your largest audience.
Acquiring e-mail addresses is important for business – When you have someone join a loyalty program, one of the best things you get is their email address (make sure you ask for it on the rewards program application). Over 40% of consumers say that they spend more money when a retailer sends them personalized emails based on previous interactions with the company.
Increase the lifetime value of customers – A loyal customer can have a lifetime value to your company that is 10 times their first purchase, so you never want to let that first purchase be an only purchase.
These are just some of the benefits that you obtain when you start a loyalty rewards program for your express exterior car wash.
Learn to Run Your Express Car Wash from the Pros
Car Wash Pro Designers is proud to share information that can help car wash owners to maximize the value of their business right here on our blog. But what if you are not yet an owner and are looking to make an investment? Then you’ve definitely come to the right place! Car Wash Pro Designers also offers turnkey express exterior wash operations. From the design to the grand opening, we’re with you every step of the way. Contact us now to learn more.