What are the benefits and challenges of offering referral discounts or coupons to loyal customers?

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Loyal customers are the backbone of any successful retail business. They not only provide repeat sales, but also act as advocates for your brand, spreading positive word-of-mouth and attracting new prospects. One of the most effective ways to show your appreciation and encourage referrals is to offer discounts or coupons to your loyal customers and their friends. In this article, we will explore the benefits and challenges of this strategy, and how to implement it in a way that boosts your revenue and reputation.

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