Loyalty programs are abundant these days. Nearly all of the major brands have them, but that doesn't mean that small businesses can't benefit from this phenomenon.

A loyalty program is a system by which you reward your customers for each purchase they make. You can offer a coupon when they've spent a certain amount of money with your business, a free gift or another special reward.

But why should you start a customer loyalty program? In short, it's because you're engaging your customers on a deeper level. Let's dig into some of the benefits you might reap.