The $10,000 Question: What’s a Loyal Customer Worth to Your Business?

Quick – how much is a loyal customer worth to your business?  How many loyal customers does it take to grow your business by $10,000 per year?  If you want to find out before you read any further, follow the link below and fill in two numbers specific to your business.

calculatorWhat’s a Loyal Customer Worth – A Simple Calculator

Don’t worry if you don’t know the answer; most businesses don’t.  By now, everyone has heard that loyal customers are valuable to your business.  For a few years, starting in about 2008, it seemed as if everyone forgot that temporarily.  The hot new trend was daily deals.  You get a big check for, say, $10,000 up front, and you get a bunch of new customers – seemed great.  Well, like the old adage says, if it seems too good to be true, it probably is.  Many business owners gambled or simply didn’t do the math.  They put themselves on the hook to deliver goods or services that cost well in excess of the money they’d received.  Those customers never came back, and slowing but surely, they bled out that money over the following weeks and months, until they were left in a worse position than before.  Some were even forced to close their businesses altogether.

Opportunity: Smartphone Adoption 62% and Growing

Thankfully, the daily deals trend is dying out.  There’s a renewed focus on supporting main street vs. wall street, and on customer loyalty vs. mass advertising.  And while the principles of buying locally and customer loyalty remain tried and true, there is an incredible wave of new technology that allows local business owners to deliver them in a way that’s never been possible before.  ComScore, which publishes mobile phone statistics among other things, reported last week that 62% of all mobile phone users in the U.S. now own a smartphone.  That number is rising over 1% per month!  So within 2-3 years, almost every consumer in the U.S. will have a smartphone.

That’s great, you’re thinking, but how can I use that to help my local business?  That’s where Lantern comes in.  We realized that local business owners needed a better tool – to bring loyalty back to their businesses, to help them consistently attract new customers and steadily help them grow.  So we built Lantern.  And we built it so you can connect with your current and potential customers in the way that is quickly becoming the de facto standard: the smartphone.

A Community of Local Businesses

For huge corporate chains like Starbucks, building a great smartphone app is something they can accomplish on their own.  With over $13 billion in revenue in 2012, they can afford to spend a few million dollars and hire a team of engineers, marketers and business developers to go figure it out.  But if you own the Mom-and-Pop down the street, what are you supposed to do?

Lantern fills that need.  By creating a community of locally owned and independent businesses, Lantern provides you access to the same caliber of tools the big guys use.  Only instead of paying millions, it’s just $49 a month.  Thats less than $2 a day.  You’d be hard pressed to find a cup of coffee at Starbucks for that, let alone the multi-million dollar technology they use to grow their business.  And if you did the calculation, it probably takes just a few loyal customers to really start making a difference in your business.

Now is the time to act.  Lantern costs just $49 a month.  It takes just 5 minutes to setup.  Let’s get started.

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