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Attracting and Retaining New Customers with Mobile Technology

ATTRACTING ND RETAINING NEW CUSTOMERS WITH MOBILE TECHNOLOGY Today's consumers are smarter, more empowered, and better connected than ever before. With competitors only a click away, few businesses are truly "THE ONLY GAME IN TOWN" anymore, which makes attracting and retaining customers infinitely more challenging. FOCUS ON RETENTION, NOT JUST ACQUISITION According to Flowtown, acquiring a new customer is 6 TIMES more costly than retaining a current one. This underscores why loyalty programs are such a powerful way to boost profits. Meanwhile, Forbes identified a sizeable opportunity for business owners who have yet to implement or fully develop loyalty programs of their own. In 2011, loyalty programs generated: BILLIO loyalty programs in total. LOYALTY CLUB $300 MILLION 1234 5678 9101 1121 ALTY CARD 34 5678 9101 1121 In 2015, they are projected to generate: LOYALTY CLUB $1.7 BILLION different loyalty program memberships per U.S. household. Only used per household, per year. 1234 5678 9101 1121 programs actually MAKE IT EASY FOR CUSTOMERS TO BUY It may come as a surprise to learn how many business owners still, in 2013, do not accept credit card payments. Accepting smartphone payment via NFC is another way to remove friction from the sales process. 95% of smartphones released in the latter half of 2012 were NFC-enabled. 100 MILLION 285 MILLION 55% of America's 15 million businesses don't take credit cards. Non-acceptance of credit results in DELIVERY DELIVERY S100 BILLION NFC handsets were shipped in 2012. will be shipped in 2013. in lost revenue annually. If your business doesn't offer NFC coupons or redemption, now may be the time to jump in. EMBRACE MOBILE MARKETING Mobile has rapidly evolved into the next big marketing channel, thanks to an ever-growing audience of device owners. Accordingly, eMarketer projects mobile advertising will skyrocket by as much as 400% over the next 4 years: In 2012 smartphones and tablets were purchased globally in 2012. ► 821 $8.4 MILLION MILLION In 2016 MORE THAN $37 BILLION I BILLION In total, more than $1 TRILLION in purchases from mobile devices are expected by 2017. are projected for sale in 2013. In the battle to find and retain customers, it's becoming critical to establish a mobile presence and firmly integrate mobile technology into your overall marketing strategy to engage customers on their own terms. SOURCES: MERCHANT WAREHOUSE | FORBES | EMARKETER | FLOWTOWN Merchant Warehouse

Attracting and Retaining New Customers with Mobile Technology

shared by merchantwarehouse on Apr 08
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Learn how Merchants can leverage new mobile options to bring more customers in the door, and turn them from simple stop-ins to frequent patrons. If you are looking for additional ways to improve in-st...

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