wallydownundy

In Hong Kong a bar announced a special on beer - “Buy One, Get One”.  That’s a direct translation of the Cantonese phrase meaning buy one, get one free. It did cause reason to pause.

Once airlines introduced frequent flyer programs, all sorts of businesses have jumped on board. Buy a dozen coffees get one free. Purchase lots of burritos and eventually one is on the house.

I’ve emptied my wallet of these cards. I never remember to bring it when I buy so I fail to record all those purchases. But this morning at my local coffee shop the barista refused my money. I buy one or two cups a day there and he shouted me a coffee. No loyalty card - just loyalty.

Businesses that reward their existing customers will be better protected in the downturn. Too much is spent chasing new business and not enough spent to retain loyal clients. If you have an agency, try to add valuable counsel outside the remit. If in-house make sure your executives are given updates on the industry.

Make sure every client is rewarded - if they buy one, give them two or three…