The cost of customer acquisition: why investing in a loyalty programme matters

It can cost up to 25 times more to acquire a new customer than it does to retain an existing one - according to a study by Harvard Business Review.

Despite this, many companies continue to focus their marketing efforts solely on acquiring new customers rather than nurturing their existing ones which is not only more costly, but also more time consuming.

This is where loyalty programmes come in. By investing in long-term, loyalty platforms and tactical 'surprise and delight' rewards, brands can connect with consumers in a way that price-cutting just cannot match.

At Lock-in Marketing we specialise in developing easy to implement loyalty programmes that deliver real results. Our campaigns are customised to fit your brand’s unique needs and designed to increase sales, boost brand advocacy, and improve NPS through quality targeted marketing and gained customer insight.

One of the biggest advantages of loyalty programmes is that they encourage repeat business. By offering incentives for customers to return, brands can build lasting relationships with their audience and create a loyal customer base. This, in turn, can lead to higher customer lifetime value and increased revenue.

If you're interested in learning more about how loyalty programmes can benefit your business, challenge us today. We'd be happy to discuss further.