Unleash Technology

Customer Loyalty Statistics – 29 Exciting Stats You Must Know

Have you heard this one – statistics speak for themselves? It is true for customer loyalty statistics as well.

This is the time to prove what we have discussed in our previous articles –

  1. What Is Customer Loyalty

  2. Importance Of Customer Loyalty

  3. How To Build Customer Loyalty

First we will see few generic customer loyalty statistics and then industry specific loyalty statistics.

Customer Loyalty Statistics:

Customer lotalty statistics

Acquiring a new customer is five times costlier than retaining an existing customer. (Source: Forrester)

Customer Loyalty - Repeat business 1

80% of a company’s revenue comes from just 20% of its existing customers. (Source: Gartner)


Cross and Up selling opportunities

Probability of selling to an existing customer is 60 – 70% where probability of selling to a new customer is 5-20%. (Source: Marketing Metrics)


Improve Customer Loyalty

Only 1 out of 26 unhappy customers complain. (Source: Customer Experience Statistics)

customer loyalty program statistics

33% of customers would recommend a brand that offers a quick but ineffective response. On the other hand, 17% of customers would recommend a brand that provides a slow but effective solution. (Source: Nielsen-McKinsey)

repeat customer statistics

 A 5% increase in customer loyalty would increase the average profit per customer by 25% – 100%. (Source: TheLoyaltyEffect)

customer loyalty statistics 2016

It takes 12 positive experiences to make up one unresolved negative experience. (Source: Understanding Customers by Ruby Newell-Legner)

why is customer loyalty important to an organisation

brand loyalty statistics 2016Customers who rate you 5 on a scale from 1 to 5 are 6 times more likely to buy from you again, compared to ONLY giving you a score of 4.8. (Source: TeleFaction data research)

importance of customer loyalty for marketers

explain the factors that influence customer retention

rewards program statistics

61% Americans and 54% Europeans switch brands just because of price. (Source: Nelson)


customer retention statistics

55% of customers would pay extra for a better customer experience. (Source: Defaqto Research)

lotalty statistics

86% of buyers will pay more for a better customer experience. But only 1% of customers feel that vendors consistently meet their expectations. (Source: CEI Survey, Forbes)

building customer loyalty

Customer Loyalty Statistics for Marketers:

Customer Loyalty
Loyalty Management Market is expected to grow from USD 1.4 Billion in 2015 to USD 4.0 Billion by 2020. (Source: PR Newswire)


customer loyalty statistics for marketers

More than 90% of companies currently have some form of customer engagement or loyalty program. (Source: Accenture)

loyalty in relationships statistics

70% of buying experiences are based on how the customer feels they are being treated. (Source: McKinsey)

customer retention stats

89% of customers have stopped doing business with a company after experiencing poor customer service. (Source: RightNow Customer Experience Impact Report)


strategies to maintain customer loyalty

Build Customer Loyalty

Retail Customer Loyalty Statistics:

Retail customer loyalty statistics

The biggest challenges retailers face regarding their loyalty programs relate to technology, strategy, financial management and people/talent.

  • Keeping up with the underlying technology (mobile and digital capabilities) or investing enough in technology (40 %)
  • Keeping up with competing loyalty programs (33 %)
  • Managing the liability and financial complexity of the program (33 %)
  • Having enough people and the right kind of talent required for today’s loyalty programs (30 %)

(Source: Accenture research report)

Retail lotalty statistics

(Source: Accenture research report)

Travel Customer Loyalty Statistics:

Travel customer loyalty statistics

68% of 2016 Fliers Belong to at Least One Airline Frequent Flier Program. (Source: airlines.org)

Travel customer loyalty

40% of travel loyalty program members tell friends and family about a program following a positive redemption experience. (Source: Collinsonlatitude)

Travel loyalty statistics

33% of travel loyalty program members actively encourage family & friends to join the program following a positive redemption experience. (Source: Collinsonlatitude)

Hotel Customer Loyalty Statistics:

Hotel customer loyalty statitics

40% of customers choose to enroll in hotel loyalty/rewards programs based on convenience of locations. (Source: Hotel Loyalty Rewards Program Satisfaction Report 2016)

Hotel customer loyalty progran

68% of millennials will remain loyal to a program that offers the most rewards – Cash / Freebies, Upgrades and Discounts. (Source: Internet Marketing Inc)

Restaurant Customer Loyalty Statistics:

restaurant loyalty program statistics

(Source: Oracle)

Now,

Tell us what you think about customer loyalty. Is customer loyalty required in every industry?

Please leave your comment below.

We continuously add or update these statistics. So please visit again.

Keep in touch, follow TechOneStop on Facebook / Twitter / LinkedIn / Google+.

Next article: Importance of Customer Loyalty

Sharing is caring!