The True Value Of Customer Loyalty Programs

Maximizing your customer lifetime value is what will make your business profitable for years, not weeks. As you’ll see in the infographic, increasing customer retention rates by as little as 5% can increase your profits up to 95%!

Customer loyalty programs work, but most businesses get it wrong. Check out our The Beginner’s Guide To Customer Loyalty Programs to learn how to get it right.

The True Value Of Customer Loyalty

Tweetable Customer Loyalty Stats

[clickToTweet tweet=”There are 3.3 billion loyalty program memberships in the US via @colloquy ” quote=”There are 3.3 billion loyalty program memberships in the US via @colloquy “]

[clickToTweet tweet=”The average US household has 29 loyalty program memberships via @colloquy ” quote=”The average US household has 29 loyalty program memberships  via @colloquy “]

[clickToTweet tweet=”Loyalty program enrollment per person is on the rise. via @createabond” quote=”Loyalty program enrollment per person is on the rise. via @createabond”]

[clickToTweet tweet=”71% of those making $100,000 or more a year are enrolled in a loyalty program via @bhengagement” quote=”More than 71% of those making $100,000 or more a year are enrolled in a loyalty program @bhengagement”]

[clickToTweet tweet=”76% think that loyalty programs are part of their relationships with brands via @AspectSoftware ” quote=”76% of Americans think that loyalty programs are part of their relationships with brands @AspectSoftware “][clickToTweet tweet=”83% of members say programs make them more likely to repeat business with companies @createabond ” quote=”83% of members agree that programs make them more likely to continue doing business with certain companies via Bond”]

[clickToTweet tweet=”It is 6-7X more expensive to acquire a new customer than it is to keep a current one. via @helpscout” quote=”It is 6-7 times more expensive to acquire a new customer than it is to keep a current one. via @helpscout”]

[clickToTweet tweet=”75 percent U.S. companies with loyalty programs generate a return on investment. via @bizjournals” quote=”75 percent U.S. companies with loyalty programs generate a return on investment. via @bizjournals”]

[clickToTweet tweet=”Increasing customer retention rates by 5% increases profits up to 95%. via @HarvardBiz” quote=”Increasing customer retention rates by 5% increases profits up to 95%. via @HarvardBiz”]

[clickToTweet tweet=”Probability of converting: existing customer is 60 – 70%, new prospect 5 – 20%. via @RetentionSci ” quote=”Probability of converting: existing customer is 60 – 70%, new prospect 5 – 20%. via @RetentionSci “]

[clickToTweet tweet=”Current customers spend 67% more than new customers. via @HubSpot ” quote=”Current customers spend 67% more than new customers. via @HubSpot “]

[clickToTweet tweet=”85% of retailers are in search of ways to add value outside of discounts via @Capgemini” quote=”85% of retailers are in search of ways to add value to their retail offerings outside of discounts via @Capgemini”]

[clickToTweet tweet=”97% of loyalty programs rely on transactional rewards, 77% of these programs fail via @Capgemini ” quote=”97% of loyalty programs rely on transactional rewards, 77% of these programs fail via @Capgemini “]

[clickToTweet tweet=”Only 25% of loyalty programs reward customers for some form of engagement via @Capgemini ” quote=”Only 25% of loyalty programs reward customers for some form of engagement via @Capgemini “]

[clickToTweet tweet=”89% of social media sentiment on loyalty programs was negative among consumers via @Capgemini ” quote=”89% of social media sentiment on loyalty programs was negative among consumers via @Capgemini “]

[clickToTweet tweet=”66% of marketers said loyalty programs are for consumers to show their loyalty via @Marketingland” quote=”66 percent of marketers said loyalty programs are for consumers to show their commitment to their businesses. via @Marketingland”]

[clickToTweet tweet=”73% of consumers say that loyalty programs should be for brands to show customers via @Marketingland” quote=”73% of consumers say that loyalty programs should be for brands to show customers via @Marketingland”]

Sources

https://www.colloquy.com/latest-news/2015-colloquy-loyalty-census/

http://blog.bondbrandloyalty.com/2015-loyalty-report-top-5

http://www.helpscout.net/75-customer-service-facts-quotes-statistics/

http://www.bizjournals.com/bizjournals/how-to/marketing/2015/02/9-stats-that-prove-the-value-of-loyalty-programs.html?page=all

https://hbr.org/2000/07/e-loyalty-your-secret-weapon-on-the-web

http://www.retentionscience.com/customer-retention-should-outweigh-customer-acquisition

http://blog.hubspot.com/blog/tabid/6307/bid/31990/7-Customer-Loyalty-Programs-That-Actually-Add-Value.aspx

https://www.capgemini-consulting.com/reinventing-loyalty-programs

http://marketingland.com/marketers-youre-thinking-loyalty-programs-wrong-consumer-disconnects-study-103279

http://www.aspect.com/uk/company/news-and-events/press-releases/customer-serve-thy-self-new-study-reveals-millennials-desire-for-self-service-digital-interaction-to-change-customer-service-forever

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