Growth March 16, 2020

Increase retention and revenue through a loyalty program

Growth Bites @growthbites

Keep your best customers retained and spending more money by offering them rewards through a loyalty program.

The e-commerce platform Shop4Vitamins rolled out their loyalty program to the highest-spending 10% of their customers. The result? A 265% increase in repeat orders — from $21,441 to nearly $57,000. In their particular case, the reward for loyal customers was 10–15% cash back on every purchase, but you might want to experiment with different perks if you don't have a transactional business model or work in the e-commerce space. For example, you could offer a one-on-one consultation on how to get more out of your product or, if you're selling a subscription-based product, you could offer a discount for upgrading to a more expensive plan.

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