How to Build Customer Loyalty When Times are Tough
It’s no secret that the UK takeaway industry is facing challenges. Just as many businesses have started to rebuild and recover following the mandatory COVID-19 lockdowns, they’re now facing the impact of the growing cost of living crisis.
It’s reported that one third of Brits are cutting down on takeaways and eating out less as they become increasingly concerned about their finances, and it’s predicted that takeout coffees could become a ‘luxury lifestyle choice’ in the very near future.
So, what does this mean for food businesses?
On the one hand, it means your audience may be diminishing, and sales dropping. On the other hand, it means you can drive your customer engagement and relationship building efforts into building greater loyalty among those customers that you *do* have. Challenges aren’t just risks; they’re opportunities to adapt and thrive.
The Importance of Customer Loyalty
It’s long been said that it costs more to acquire new customers than it does to retain existing ones, and that’s correct. So right now, when times are tough, one of the best things that food businesses can do is to focus on satisfying those they already have.
Research shows that loyal customers typically have a greater customer lifetime value (CLV) than others, spending 31% more than new customers and showing themselves to be 50% more likely to try a new product. When customers feel loyal to a business, they’re more likely to keep going back for more, helping you to build a community of ‘regulars’ who are less likely to swap to a competing organisation.
Building Customer Loyalty for Less
There’s an almost never ending list of ways to build customer loyalty, from giving out little freebies to creating rewards programmes But times are tough. And food businesses don’t always have the resources to invest in long term loyalty schemes.
The good news is that there are ways to build customer loyalty for less. One such way is simply by using a branded loyalty stamp that can be printed onto paper bags, pizza boxes, takeaway boxes, cardboard coffee sleeves, and more.
While it may seem simple - and perhaps too simple - this method can be hugely effective. By stamping your brand name or logo onto packaging that is taken out with the customer, the message and values that you want to convey through your branding stays with them, even when they’ve left the premises. No matter where they are, if they have your packaging, they’re remaining connected to your brand.
Start Building Loyalty Among Your Customers
We’re committed to helping our clients connect closely with their customers, especially when times are tough. That’s why we’re launching a new initiative, providing you with a free custom branded loyalty stamp for every paper cup order you make. Order your branded paper cups now to take advantage of this great offer.
Tags: branded paper cups, paper cups, loyalty schemes, customer loyalty