Bay Area Company Disrupts Customer Loyalty Industry

BERKELEY, Calif., Dec. 15, 2016 /PRNewswire/ -- Sustaining business growth in today's competitive marketplace is not an easy task. Building a loyal customer base has become key to overcoming this challenge. EvoShare, the rapidly-expanding customer loyalty program, is mobilizing business owners to establish lasting customer relationships by combatting the upcoming debt and retirement crisis.

For long, many small businesses have relied on marketing platforms that are discount-driven and offer one-time promotions to customers. Although these services have delivered first-time customers, a study by Rice University found unhappy business owners reporting that 87% of Groupon-wielding customers never returned to pay full price. Two-thirds said 70% of the customers drawn in never returned in general. As a result, business owners have found themselves yielding up to 50% of their margin only to find customers becoming loyal to one-time promotions instead of their business.

Since 80% of business revenue comes from the top 20% of existing customers who value and frequent the business, customer loyalty has become crucial for small businesses to not only thrive but also survive in today's marketplace. An article on Entrepreneur shows that "a repeat customer spends 67 percent more on a given purchase than a new customer does." This reality has led businesses to adopt loyalty programs that drive sustainable results.

However, research reveals "six out of ten customers believe that companies only offer rewards to get them to buy more." While this may be true for most loyalty programs, Evoshare is going beyond with its socially conscious approach that is changing how business owners create customer loyalty and build a positive customer perception.

With EvoShare, individuals sign up as EvoSavers for free and businesses join the platform as participating locations. Every time an EvoSaver spends at a participating location, EvoShare places a percentage of what they've spent -- determined by that location -- exclusively into their retirement plan or college debt pay-off. EvoSavers find this system both innovative and meaningful, and thus frequent these businesses as loyal customers. The cost to business owners is performance based; the cash-back payouts are only made when EvoShare does their part and delivers sales. Business owners don't need to significantly give up margins as in the case of discount promotions or incur costs that far outweigh results.

"If you pay $1,000 for a Facebook ad it may bring you a few clients. But if you pay EvoShare $1,000, that means we've made you $20,000 in revenue and have made your customers more loyal and more prepared for retirement," said Eugeny Prudchenkyo, EvoShare's CEO. He sums it up well by adding, "One-time promotions only attract customers loyal to price. EvoShare will attract customers loyal to your business, since you're improving their financial future."

Thanks to Evoshare, businesses are overcoming consumer skepticism and building genuine, customer loyalty by showing they care about their customers' financial future.

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Click here for EvoShare loyalty program video.

SOURCE EvoShare

Related Links

https://www.evoshare.com