Why implement a customer loyalty program?

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asimd23
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Joined: Mon Dec 23, 2024 3:22 am

Why implement a customer loyalty program?

Post by asimd23 »

Loyalty programs are one of the most effective ways to consolidate a community of loyal customers. These types of incentives range from gifts to birthday greetings. There are dozens of ways to reward the most loyal users and thus create value for them.
It is proven that customers are the ones that generate the most profit for companies, regardless of their nature. That is why it is extremely important to focus on attracting and maintaining customers. In addition, having a community of loyal users is the most effective and efficient form of word-of-mouth advertising. It should be noted that marketers claim that finding new customers costs between 50 and 70 percent more than retaining existing ones. For this reason, loyalty general manager email list programs have increased in the last 30 years in companies such as supermarkets, airlines, retail stores, credit cards, restaurants and many other types of businesses.

Benefits of establishing a loyalty program?
More frequent visits and purchases: The vast majority of consumers prefer to buy from a retailer that has a loyalty program. To the point that 72 percent of people are part of one or would like to be part of one.
Brand love: 61 percent value rewards even if they are not cash. Some options are recognition, discounts or donations to social programs.
Loyalty: 80 percent prefer brands that provide some type of rewards, either in the store itself or online.
Where do consumers prefer to collect their benefits?
69 percent prefer to do it in the physical store.
78 percent prefer to do it through digital means.
63 percent prefer to do it through another company.
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