Why retaining your customers and staff loyalty important?
Not only can loyalty manage to retain the best staff and customers in your business, but it can also be the key to achieving the most desirable returns to your business.
The importance of retaining loyalty with staff
Staff turnover can be time consuming and cost inefficient, it can cost twice an employee’s salary, and lower the knowledge base in your company as well as performance rates. In order to avoid these negative effects, it is most preferable to retain your best employees and think of providing some perks.
Incentives are an ideal approach to employee retention as they have positive outcomes for both employees and employers, including productivity increase.
The importance of retaining loyalty with customers
Studies have shown that existing customers can be one of your greatest marketing tools. Especially for start-up businesses, referral marketing is very important and can help you keep customers’ loyalty, achieve great returns, build brand awareness and attract new potential customers.
Cordoba Rewards introduces…
Rewards programmes such as loyalty schemes or long service awards can make a vast difference in retaining your staff, customer’s loyalty and engagement.
Using a points based rewards programme can be particularly effective and can also encourage staff or channel partners to hit targets, if they are aiming at collecting a set of points for a desired product overtime within the online catalogue provided. It helps you track employees and customer’s behaviour as well as having an insight of what they buy and use this knowledge to nurture your relationship with them.
To find out more about our Rewards programmes click here