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Customer Loyalty Programs: Stats, Facts and Opinions
by Shep Hyken
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For this last week in April, the final week of International Customer Loyalty Month, I want to share several more interesting statistics about customer loyalty. These statistics focus mostly on Business to Consumer types of businesses, and while the numbers may not apply to Business to Business, the concepts do. Read them with the idea of how the concepts apply to your industry and company.
Ed Hadley, Senior Marketing Manger of Neolane, Inc. posts in Cross Channel Conversation Blog the following statistics:
The average U.S. household has enrolled in more than 18 customer loyalty programs, but is only active in 8.4. (Colloquy, “The Billion Member March: The 2011 COLLOQUY Loyalty Census”) My take: Just because someone signs up for your loyalty program, it doesn’t mean they will ever do business with you again, at least in the somewhat near future.
Of the roughly $48 billion in reward points and miles issued annually, at least one third ($16 billion) goes unredeemed by consumers. (Colloquy, “The Billion Member March: The 2011 Colloquy Loyalty Census,” April 2011) My take: I’m not convinced that the $16 billion points and miles go unused. The customer may be accumulating versus spending them. That said, there are points that will never be redeemed or will expire, just not all $16 billion of them.
Read the entire Shep Hyken article
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