Glue Loyalty (courtesy company website)
Glue Loyalty offers small businesses solution for customer retention. The Israeli startup just raised $8 million for its operations.
Founded in 2014 by Ira Nachtigal, Jacob Tenenboim and Dany Gal, Glue calls itself a powerful, fully automated loyalty manager that takes care of a business’ customers while it takes care of business.
The startup began with as an app creating software for SMBs (small-to-medium-sized business). But Glue evolved into a cloud-based automatic customer loyalty platform with an enhanced members club.
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This is all about customer retention. A happy customer is a returning customer. Having a stream of repeat business and a loyal customer base saves any firm on marketing and advertising expenses. But the question is how you create consumer loyalty.
While the answer is, of course, service and quality, this may not always be enough. And small businesses especially must find ways to ensure that they give the customer what he wants.
Glue’s research shows that existing customers are 70% more likely than new customers to make a purchase. Keeping an existing customer is 7 times less expensive than acquiring a new customer. Customer retention is cheaper and more effective than marketing or traditional advertisement.
Glue Loyalty App
Thanks to automation technologies such as loyalty managers, it is quite easy to put a loyalty program in place. However, it is important to focus on strategies that actually work, instead of just turning on a loyalty program and expecting it to do all the work.
Glue offers micro and small local businesses fully automated loyalty programs, helping business owners recover their local customer-base, grow their revenue, and take time consuming loyalty tasks off their schedules.
The company sates that its goal is to empower SMBs to transform their clients into lifetime brand ambassadors.
“Acquiring new customers is anywhere between 5-25x more expensive than retaining them, yet local businesses don’t have the time nor the expertise on how to do it,” said Glue co-founder and CEO, Ira Nachtigal, in a statement. “This funding will help us solve that challenge by providing powerful and customized loyalty tools that are entirely automated. Local businesses can stay focused on the day to day, while we make the process of keeping customers coming back effortless.”
Glue CEO Ira Nachtigal told VentureBeat, “Glue started as an app creator called Bobile. At the time, we thought every business needs an app, but after a while, we understood what’s really important to the business owners we spoke with is the ability to keep their customers coming back.”
