Other studies have shown that converting a new customer can cost up to 25 times more than converting an existing customer.
82% of brand leaders believe that selling to existing customers is much more cost-effective than selling to new customers.
It costs businesses $1.6 trillion a year for consumers to switch to a new brand.
Loyalty Program Statistics
Loyalty programs are the foundation of customer kuwait whatsapp resource retention systems. They can be used by brands in the retail, tourism and even service sectors. So how do they help?
Loyalty programs can help increase a customer's average revenue by 54%.
The average customer is part of 16-17 loyalty programs, but will only use seven of them.
Over the past five years, consumers have joined approximately 24.6% more loyalty programs, but usage of these programs has only increased by 10.4%.
2021 was the year that loyalty program usage improved for the first time in the last six years.
Personalized gamification can increase a company's growth by up to 10%.
Over the next five years, 15% more successful businesses will generate $800 billion in benefits through personalization loyalty programs.