Why It's Important to Use Customer Loyalty Tools
Posted: Tue Dec 17, 2024 6:10 am
It is now known that it is much easier for a company to retain existing customers , and thus increase their life cycle, rather than acquire new ones. This certainly does not mean giving up on new potential audiences, it is simply necessary to divide the marketing budget between loyalty strategies for acquired customers and other marketing activities to intercept people who do not yet know your company.
Customer loyalty has a very important impact on businesses today. Without happy customers who continue to buy, the business will not survive .
Acquiring new customers tends to cost more than retaining existing ones. Furthermore, it should be considered that the former will spend much less than the latter, as they will want to try the product/service first without investing too much money.
Therefore, rewarding customers with loyalty strategies is country email list essential for success: it is the loyal customers who will help your company grow and maintain high profits. According to statistics , in fact, a 5% increase in customer loyalty can increase company profits by 25% – 95%.
It is also important to remember that a loyal and satisfied customer can recommend your products / services to family and friends, even through completely spontaneous User Generated Content on social media. Customer feedback is really important and some statistics from Referral Sasquatch also explain it to us:
the lifetime value for new referral customers is 16% higher than for non-referrals. This is likely due to the fact that they already have a positive opinion of the business;
Social media posts influence purchasing decisions by 83%;
B2B companies with referrals have a conversion rate above 70%;
83% of consumers say they would recommend a company they trust to friends and family.
Based on all this data, you can easily understand that investing in customer reward strategies is essential for business growth .
How to Reward Customers with Online Contests
Customer loyalty has a very important impact on businesses today. Without happy customers who continue to buy, the business will not survive .
Acquiring new customers tends to cost more than retaining existing ones. Furthermore, it should be considered that the former will spend much less than the latter, as they will want to try the product/service first without investing too much money.
Therefore, rewarding customers with loyalty strategies is country email list essential for success: it is the loyal customers who will help your company grow and maintain high profits. According to statistics , in fact, a 5% increase in customer loyalty can increase company profits by 25% – 95%.
It is also important to remember that a loyal and satisfied customer can recommend your products / services to family and friends, even through completely spontaneous User Generated Content on social media. Customer feedback is really important and some statistics from Referral Sasquatch also explain it to us:
the lifetime value for new referral customers is 16% higher than for non-referrals. This is likely due to the fact that they already have a positive opinion of the business;
Social media posts influence purchasing decisions by 83%;
B2B companies with referrals have a conversion rate above 70%;
83% of consumers say they would recommend a company they trust to friends and family.
Based on all this data, you can easily understand that investing in customer reward strategies is essential for business growth .
How to Reward Customers with Online Contests