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11 Startling Stats about Customer Loyalty and Loyalty Programs
Posted on Feb. 22nd 2012 8:26 AM by edhadley
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According to one definition, customer loyalty is “the extent to which your customers continue with key loyalty behavior when competitors offer more attractive prices, products, and/or services.”1 In other words, customer loyalty is continuing to buy products from brand A even though brand B offers similar (or better) products at a lower price.
If cultivating loyalty is in fact the mission of loyalty/rewards programs, then most fail to live up to their name. We uncovered 11 startling stats that point to increasingly disengaged and disloyal members, unclear program benefits, and irrelevant offers—all of which underscore the urgent need for a new approach to loyalty management.
The number of loyalty memberships in the U.S. is 2.1 billion, exceeding 2 billion for first time.2
Read the entire Ed Hadley article
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