A factoid about money.
Money isn’t made out of paper, it’s made out of cotton.
A simple fact that is packed with MBA level wisdom. Let me demonstrate.
Cotton, like all crops has a season for planting and a season for harvesting. It starts with collecting the right seeds. Once planted the saplings have to be nurtured so it continues to grow.
During the growing season fertilizer and medicine is applied to protect the crop from disease and pets. And finally when the cotton blooms, it is picked and harvested.
These same principles are applicable to business.
We begin by ‘collecting the right seeds’ which in our case is acquiring products that customers desire. We ‘prepare the land’ by taking marketing actions so that customers start arriving.
And once the customer arrives, we must nurture them by offering value in our products, website and customer service. Just like the farmer protects his crops, so too we must protect our customers from the competition.
One of the best protections you have from competitors is a loyalty program.
It keeps your customers returning to you instead of the competition. But you can’t offer rewards using any old system.
It has to be done in a way that delights your customers.
RewardCamp is the customer delight loyalty app. Signup now at www.rewardcamp.com