As humans, most of us naturally value loyalty. We appreciate people who stick with us in tough times, people that we can depend on no matter what.
The same applies in the business world, where gaining loyal customers is fundamental to building a thriving and successful company.
Without regularly returning customers, you will constantly be searching for new leads to convert in to sales.
Basic business principles have taught us that it costs more to bring on a new customer than to retain an existing one – so it only makes sense to reward those who keep on coming back.
Customers remain loyal where it benefits them, whether in terms of convenience, attractive prices or a generally satisfying experience – so when they receive an unexpected reward from a company, it’s a pleasant surprise.
Rewards remind the customer that you’re aware of them, that you appreciate their purchases, and that you’re willing to go above and beyond to keep them happy.
One company that has embraced the idea of rewarding its customers is Kaymu, Uganda’s largest online marketplace, who is currently running a giveaway promotion called the Kaymu Lucky Dip. Kaymu Uganda’s Marketing Manager, Stacey Mwesezi says “It’s all about giving back to our customers. We recently celebrated Kaymu’s 2nd birthday, so we’re thanking our customers for embracing our platform and bringing us this far. We’re not able to give a gift to every single customer we have, but we’ll give every customer who places an order during this promotion, an equal chance of winning – that’s why it’s called a lucky dip.”