Current customers spend 31% more than new customers, according to today's infographic, which highlights 20 reasons customer loyalty should be a priority for marketers.
Just a 5% increase in customer retention can lead to an increase in profits of 25-90%, according to the graphic, which was compiled by lead-capture software company Fieldboom.
Brands can increase retention in various ways, including demonstrating consumer appreciation (which 77% of consumers like, according to the graphic).
And companies should be looking at where their buyers are online: Customers who receive responses from a business on Twitter are 30% more likely to recommend the brand to others, and people who use Facebook more than five times per day are more likely to be brand loyalists than people who use the social platform just once per month, the graphic says.
To see more reasons you might want to focus on customer loyalty in the coming year, check out the infographic:
Oh, boy. The dreaded sign up form.
Before you run for the hills, we wanted to let you know that MarketingProfs has thousands of marketing resources, including this one (yes, the one behind this sign up form), entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may also like:
- Boost Your Sales With Strategic Gifting [Infographic]
- How to Use Empathy in Your B2B Brand Storytelling
- The Role of Customer Empathy in the Future of Marketing
- How to Offer More Value to Your Crisis-Stricken Customers [Infographic]
- Planning Your COVID-Related Communications: A Flowchart [Infographic]