What You Can Learn from Loyalty Programs
An organization’s most loyal customers disproportionately drive revenue and profitability. A 2013 article in MarketingProfs confirmed what most business leaders know:1 The approximately 20 percent of customers who have visited a business 10 or more times drive 80 percent of the business’s total revenue and 72 percent of total visits to the business. The most loyal customers are less price-sensitive, more likely to be up-sold, and much more (70 percent more) likely to talk up the business.
No one doubts it. Loyal customers are really important. After all, loyalty programs are everywhere. Our key ...