How’s your customer loyalty working out for you?

Posted on March 18, 2020 in internet marketing, Internet Marketing Company, Local Internet Marketing, Marketing, Mobile SEO, Search Engine Marketing Services, Search Engine Optimization, SEO, Social Media Management, Social Media Marketing Services

When it comes to customer loyalty, too many companies seem to just give it a passing consideration. Many companies, especially the big national  brands seem to come out with new customer incentive programs on what seems like a weekly basis. What are they offering long time loyal customers? Usually nothing. This is a huge mistake as customer  loyalty could very well end up as the backbone of your company’s survival. Here are just a few stats to ponder:

  • About 80% of businesses still rely on email marketing to assist with maintaining their client retention rate. (Emarsys)

  • The probability of selling to an existing customer is 60-70%.(Altfeld)

  • The Pareto Principle shows 80% of your profits come from just 20% of customers.(Forbes)

  • 58.7% of internet users believe earning rewards and loyalty points is one of the most valued aspects of the shopping experience.(eMarketer)

  • 87% of Americans are willing to have various details of their activity tracked in exchange for more personalized rewards and brand experiences.(Bond)

  • Over 70% of consumers are more likely to recommend a brand if it has a good loyalty program.(Bond)

  • 77% of brands could disappear, and no one would care.(Vivendi)

  •  Brands which are meaningful and viewed as making the world a better place outperform the stock market by 134%.(Vivendi)

  • Nearly 50% of customers in the US say brands don’t meet their expectations.(Acquia)

  • 69% of US consumers say customer service is very important when it comes to their loyalty to a brand.(Microsoft)

  • 54% of consumers say they’ve had at least one bad customer service experience in the last month.(HubSpot)

  •  Revenues for businesses that prioritize customer service rise 4-8% above their market.(Bain)

  • Satisfied US customers will share their positive experience with 11 different people.(American Express)

  • 77% of consumers say they stayed loyal to specific brands for 10 years or more.(InMoment)

  • 55.3% of consumers stay loyal to a brand because they love the product.(Yotpo)

  •  69% of US consumers do not trust advertisements.(HubSpot)

  • 93% of consumers are more likely to make repeat purchases at companies with excellent customer service.(HubSpot)

  • More than 50% of Americans have cancelled a purchase because of bad service.(American Express)

  • 50% of US consumers have left a brand they were loyal to for a competitor that better met their needs.(HubSpot)

  • 61% of consumers think surprise gifts and offers are the most important way a brand can interact with them.(AP News)

  •  77% of consumers say they favor brands that ask for and accept customer feedback.(Microsoft)

-Written by Kevin Sawyer