Customer loyalty facts

Customer loyalty facts show consumers spend 43% more on brands they are loyal to. These economics should motivate any marketer to make customer loyalty a top priority. How should they develop a customer loyalty strategy and create a plan? What does this mean for their business?

Here are 30 customer loyalty facts in 2022 and 5 key takeaways.

#1. Retention trumps acquisition

• 82% of companies agree retention is cheaper than acquisition.
• 80% of companies rely on email marketing to help maintain their retention rate.
• 77% of consumers stay loyal to a specific brand for 10 years.
• 60-70% is the probability of selling to an existing customer.
• 65% of a company’s business comes from existing customers.
• 58% of companies pursue personalization strategies for customer retention.
• Customer acquisition cost have risen by more than 50% in the last 5 years for B2C and B2B companies.

#2. Outstanding customer service still accounts for a lot

• 93% of customers come back for another purchase if their previous experience was excellent.
• 57% of customers cease being loyal to a brand if their negative comments go unaddressed.
• 50% of customers tell their friends about a business.
• 50% of customers leave a favored brand for a competitor due to an inability to meet up with their needs.
• 37% of customers say it takes 5 purchases before they consider themselves loyal to a brand.

#3. Repeat customers expect rewards customer loyalty fact show

• 87% of Americans are willing to have various details of their activity tracked in exchange for more personalized rewards and brand experiences.
• 75% of consumers say they favor companies that offer rewards.
• 72% of U.S. adults belong to at least one loyalty.
• 70% of customers are more likely to recommend a brand if it has a good loyalty program.
• 58% of internet users believe earning rewards and loyalty point is one of the most important aspects of the shopping experience.
• There are 3.8 billion loyalty program memberships in the U.S.

#4. Loyalty program customers want to engage with emerging technologies, particularly gamification

• 95% of loyalty program members want to engage with their brand’s programs through new and emerging technologies.
• 61% of customers are hoping for interactions with offers and surprise gifts.
• 57% of customers engage in loyalty programs via mobile.
• 56% of programs employ game mechanics (gamification) in their loyalty programs.
• 54% of consumers consider dropping a brand that doesn’t do enough to engage them.
• 54% of companies aim for more emotional loyalty programs.

#5. Customer loyalty facts show gains by giving back

• Brands viewed as making the world a better place outperform the stock market by 134%.
• 89% of consumers say they will stay loyal to a brand if it shares similar values with them.
• 75% of consumers expect brands to make more of a contribution to their well-being and quality of life.
• 56% will abandon a brand that doesn’t share their belief.
• 56% of U.S. consumers believes brands do not have their best interest in mind when they use, share, or store their personal data.
• 50% of consumers in the U.S. say brands don’t meet their expectations.

Do these customer loyalty facts and key takeaways provide you with direction for your business.