Infographic: Marketers Are Investing In Customer Loyalty And You Should Too!
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If you thought that your superstar sales person is the key contributor to rising enterprise revenue, think again. A recent infographic by PayFort, based on a survey of 234 brands and digital marketers reveals that engaged customers tend to buy 90% more often, and spend 60% more per transaction. The study stresses that a high-spending customer is not necessarily loyal, and ensuring great experiences for customers makes all the difference. Finding that members of loyalty programs generate an average of 12-18% more revenue than non-members, the study counts customer engagement, increased transactions, and greater customer connection as a few key benefits of loyalty initiatives by brands. For companies still contemplating about their 2017 customer loyalty budgets and strategy, this finding from the survey may help you decide- 50% of the survey respondents already offer a loyalty program, and 57% are planning to invest more in such avenues. Check out the infographic below for more such insights.