Is your company more focused on acquiring new customers or nurturing existing ones?
Though 63% of marketers consider customer acquisition to be the most important advertising goal, successful companies know that engaging their loyal customers is critical to their bottom line.
Recently, FiveStars performed an analysis of 14 million store visits from more than 1 million customers, as well as the results of loyalty programs from over 2,000 businesses. The study found that loyal customers (those who visited stores at least 10 times) account for about 20% of the company's customers.
Businesses, however, shouldn't scoff at the deceptively low percentage. That 20% drives 80% of your business's total revenue and 72% of total visits to your business.
Take the first step (it's free).
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