Loyal customers not only have a higher purchase frequency and lifetime value, but they also help you acquire new customers at practically no cost via social media, online reviews and word of mouth referrals.
It is at least 5X cheaper to retain an existing customer than it is to acquire a new one.
Customers are 80% more likely to make a repeat purchase when they participate in loyalty programs.
80% of business profits are generated by 20% of its loyal customers.
50% of consumers change their behaviour to reach a higher tier within a loyalty program.
REPEAT PURCHASE PROBABILITY
A 5% increase in customer retention has the potential to increase profitability by 25% to 95%. The likelihood of returning customers making repeat purchases grows significantly with every visit.
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