The Importance Of Loyalty Reward Programs

For any business, the ability to keep its customers is key if at all there is to be an increase in profit margins. Statistics show that it costs a business considerably more to acquire a new customer than it costs to sell to an existing customer – up to 25 times more. As a result, businesses have become more innovative in their quest to ensure that they are able to retain their favourite customers. It is for this purpose, that the loyalty...