A 5% reduction in lost customers can increase profits by up to 75%.



Stat: A 5% reduction in lost customers can increase profits by up to 75%.

Stat Categories: Loyalty Program / Rewards Stats

Tags: loyalty program loyalty program,rewards loyalty program,rewards,miles loyalty program,rewards,miles,points

Years:

Stat Source: Loyalty Magic

Publisher (site that mentioned this stat): LoyaltyLeaders.org

Submitted By: Michael Raeford

Related Categories: None


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Stat Data / Info Details
81% of loyalty member don?t know the program benefits or how/when they will receive rew... See Full Stat Info
Participation in rewards and loyalty programs rose by 19% across the board since 2007. ... See Full Stat Info
Despite the increase in overall membership, the average number of programs in which hou... See Full Stat Info
Seventy percent of persons from higher-income households ($125,000 +) are more loyal to... See Full Stat Info
UK marketers are tentatively embracing Web 2.0 technologies, with 17% now saying that t... See Full Stat Info
According to recent UK studies, 96% of their population are currently a member of a rew... See Full Stat Info
55% of reward program members are self-described WOM champions. See Full Stat Info
Poor customer service (44%) is the aspect most likely to put people off increasing thei... See Full Stat Info
Nearly 90% of Americans participate in some type of rewards program, and most are enrol... See Full Stat Info
28% of customers reported that they are ?Extremely Likely? to increase their visits to ... See Full Stat Info
Of the roughly $48 billion in reward points and miles issued annually, at least one-thi... See Full Stat Info
Even though 53% of retailers surveyed indicate that customers can join their loyalty pr... See Full Stat Info
More than 76 percent of all U.S. grocery retailers with 50 or more stores now offer a f... See Full Stat Info
792.8 million active memberships indicates that the rate of active membership is relati... See Full Stat Info
Customer spending is 46% higher with companies that offer reward card programs. See Full Stat Info
51% described themselves as being "fairly satisfied" with the programmes they are membe... See Full Stat Info
Loyalty program penetration among U.S. debit card issuers is already at 20 percent and ... See Full Stat Info
73% of teen and young adult consumers (aged 13 to 21) shop at a fixed group of stores. ... See Full Stat Info
A mere 27 percent of Americans have received a loyalty program reward or promotion that... See Full Stat Info
The Northeast (70 percent) and West (63 percent) have the highest concentration of stor... See Full Stat Info
Sixty-four percent of persons from higher-income households who don't currently partici... See Full Stat Info
Participation in loyalty programs - especially among younger adults - has risen 19% sin... See Full Stat Info
Over half (50.7 per cent) of US supermarkets now offer savings through frequent shopper... See Full Stat Info
46% of consumers said that they were not part of any loyalty scheme, while 47% said tha... See Full Stat Info
Most companies can increase revenues by nearly 50% while retaining only 5% of their cus... See Full Stat Info
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