A recent survey of over 200 digital marketers found that 50% of fortune 500 businesses have already formalized a loyalty program for their customers, and 57% are planning to increase spending through 2017.
With this strong drive towards improving customer loyalty from some of the world largest companies you might be thinking, “Should I be investing too?” Well the answer is yes!
A strong customer loyalty program can provide a long list of benefits by helping them:
Drive Engagement– Customer loyalty programs help ensure customers stay engaged with your product or service over a longer timeline.
Create Connections– By rewarding customers you increase the bond to your brand and the likelihood that will recommend you via word-of-mouth marketing.
Increase Transactions– Loyal customers keep your brand at the top of their mind and increases the opportunity to do business with them.
Increase Spend– since you’ve already broken the trust barrier, current customers will spend more money with you.
Connect/Leverage Data– Loyalty programs create a great tool to understanding what motivates your customers and personalize offers just for them.
Check out some more great insight about customer loyalty in this week’s infographic!
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