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Why is Customer Loyalty Important?

Loyal customer account for about 20% of your customers. But, generate around 70% of your sales.

why loyalty is important

So, what would happen if you increased your loyal customer base? Businesses can boost profits by almost 100% by retaining just 5% more of their customers.

Easier said than done, you're thinking? … All you need is a smart customer loyalty marketing strategy.

A whopping 84% of global consumers said they were more likely to visit a retailer who has a loyalty program. 

But, can you fit it into your marketing budget?

It costs 7 times more to acquire a new customer than retain an existing one. And, repeat customers drive 7 times more revenue per-visit as a one time buyers.

loyal customers cost less So, how do you turn new customers into loyal customers?

Encourage them to come back.

A first-time customer has a 30% chance of becoming a long-term profitable customer. And, if they visit 3 times, relatively quickly, the chance of becoming a long-term loyal customer, more than doubles to 67%.

Probability of a new customer becoming loyal

So, how do you get them to come back again? Check out this free loyalty guide to get all the tips and tricks, and make your loyalty program a success.