Customer acquisition costs represent a significant indirect expense. Once you acquire a new customer you should implement strategies to keep them coming back again and again. When you fly you often have a choice of airlines that fly the same route.
To encourage repeat business many carriers offer frequent flier miles that equate to perks, such as early boarding, or that can be cashed in for discounts on future flights. Businesses from liquor stores to sandwich shops frequently offer punch cards. Once you achieve the requisite number of punches or stamps you can trade them in for a discount.
How can you price your product or service to drive customer loyalty through repeat business and maximize revenues?
