Where’s your phone? If you’re one of the 64% of American adults who now own a smartphone of some kind, the chances are good that it’s close at hand. Chances are also good that you rarely leave your house without it. Here’s the point: mobile technology has completely changed how we function as a society. If your business hasn’t yet considered how to adapt to the trend towards mobile, today is the perfect time to start. With that in mind, here are 3 reasons why you need a mobile loyalty solution.

1. Loyalty Is Vital

Don’t know how to increase your business’s bottom line? Try increasing your customer loyalty. According to a study conducted by Forrest Research, it costs five times as much to acquire new customers as it does to keep current ones. And loyalty doesn’t just cut costs; it boosts revenue. According to FiveStars research, loyal customers spend 10 times more than non-loyal customers over the course of their lifetime. It’s simple: if you want your business to thrive, you need to create and sustain loyalty.

2. Punch Cards Are Dying

Punch cards are a simple way to keep track of purchases and reward customers for loyalty. Unfortunately, they’re also pretty boring. Not only do they fail to offer businesses any way to collect customer data, they also face stiff competition from the rest of customers’ overstuffed wallets. One study found that the average American has over 17 cards packed into their wallet. Good luck trying to stay relevant in the midst of that mess.

3. You Need To Be On Mobile

We briefly covered this earlier, but it’s worth repeating. These days, mobile phones are used for everything from surfing the web to providing payment during in-store transactions. If your business doesn’t have a mobile presence, you need to start considering your options. The right mobile loyalty solution can give your business the strong mobile presence it needs to stay up-to-date in our increasingly smart-phone-dependent society.

So, there you have it: the 3 reasons you need a mobile loyalty solution. Are you interested in mobile loyalty, but not sure what the right solution is for your business? Consider using a community-based loyalty application like the one provided by LoyalTap. We’re experts at providing mobile loyalty solutions to small business communities. Visit LoyalTap.com to see if LoyalTap could be the right mobile loyalty solution for you.