The Pareto principle states that for many events, 80% of the effects come from 20% of the causes. For a business, this means that 80% of sales comes from 20% of customers. One of the keys to having a successful company, then, is to find those 20% of customers and keep them coming back for more.
For a coffee company to be successful, they need to establish loyalty with their customers. In this episode of The Boise Coffee Podcast I discuss the history of loyalty programs over the past two centuries, and why I think it’s important that we support our local coffee shop with our wallet.
The reality is that small, local coffee shops rely more heavily on regular customers than you could ever know. Don’t waste your loyalty on chains that want to squeeze money out of you to stay on top.
The Coffee Guy