Loyalty

Infographic – 9 Reasons to Invest in Customer Loyalty

Subscribe by Email Subscribe by RSS

Topics: Loyalty

By SpotOn

It's more important than ever for small businesses to invest in customer loyalty. These statistics show exactly why.

SpotOn Infographic: 9 Reasons Why Your Business Needs to Invest in Customer Loyalty


Share this Image On Your Site


9 Reasons Why Your Business Needs to Invest in Customer Loyalty

  1. A 5% increase in customer retention can boost profits by 25% – 95%. 
  2. Loyal customers are worth up to 10 times as much as their first purchase.
  3. Millennials are more brand-loyal than any other age group.
  4. The cost of bringing a new customer up to the same level of profitability as an old one is up to 1,600% higher.
  5. People who use Facebook and Instagram 5+ times a day are 125% more likely to be brand loyalists than people who use social media less often.
  6. The top 2 factors for creating brand loyalty are likability (86%) and trust (83%).
  7. Customers spend 3% to 20% more on items from businesses that engage with them through Twitter, and are 30% more likely to recommend the brand to others.
  8. Existing customers are 50% more likely to try new products, and spend 31% more than new customers.
  9. 41% of consumers say they purchase more from retailers that send them personalized emails based on past behavior.

Thinking about adding a digital loyalty program to your business? Learn all about SpotOn loyalty or get a free demo


Sources:

  1. https://hbswk.hbs.edu/archive/the-economics-of-e-loyalty
  2. http://customerthink.com/a_ton_of_scary_custexp_quotes_and_stats/
  3. https://rare.consulting/rare-research/loyalty
  4. https://newscenter.td.com/us/en/news/2017/td-bank-study-finds-americans-are-opening-their-wallets-again-with-73-percent-making-a-major-purchase-in-the-last-year
  5. https://www.fieldboom.com/blog/customer-loyalty-infographic/
  6. https://www.fieldboom.com/blog/customer-loyalty-infographic/
  7. http://insights.fb.com/2016/11/01/modern-loyalty-love-in-a-time-of-infinite-choice/
  8. https://blog.twitter.com/marketing/en_us/topics/research/2016/study-twitter-customer-care-increases-willingness-to-pay-across-industries.html
  9. http://www.e-tailing.com/content/?p=3531 

 

Download Our Free Guide, “75 Reasons to Contact Your Customers”

Stay top-of-mind with your customers with a communications strategy tailor made for small businesses.

75 Reasons_Mobile 3.png