Are you a shining star on the sales horizon with the number pointing right to your targets and an achiever in every level? But let’s be honest, how much efforts do you make to your best loyal customer, how do you make them feel special? Customer Loyalty is a hard market which requires attention.
PayFort, has created recently an infographic which is based on a survey of 234 brands and digital marketers that reveals how engaged customers are and tent to buy 90% more often, and spend 60% more per transaction.
According to the study, a high-spending customer is not necessarily loyal, and ensuring great experiences for customers makes all the difference. Customer experience does matter for Customer Loyalty, this fact is given for years now.
Keep in mind, acquiring a new customer costs us 5 to 25 times more than retaining a happy client and upselling or cross-selling. Just increasing customer retention by as little as 5% can increase profits by 25% to 95%.
Did you know, members of loyalty programs generate an average of 12-18% more revenue than non-members.
The study illustrates that customer engagement, increased transactions, and greater customer connection are only a view key benefits of loyalty initiatives by brands. For companies still contemplating about their 2017 customer loyalty budgets and strategy, this finding from the survey may help you decide- 50% of the survey respondents already offer a loyalty program, and 57% are planning to invest more in such avenues.
But let’s face the fact that we are all a little tired from loyalty programs, special the once which require us to carry a card with us. Now there are a lot which works with a mobile app or simple collecting points for benefits.
Check out the infographic, “Marketers are investing in Customer Loyalty and you should be too”, below for greater details and learn more about your loyal customer.