Some of the Mind Blowing eCommerce Loyalty Program Statistics

1. Some of the Mind Blowing eCommerce Loyalty Program Statistics

2. 1. 77% of consumers say they stayed loyal to specific brands for 10 years or more. (InMoment) Customer brand loyalty is big even for millennial consumers. Despite their relatively young age, they already have long-term relationships with brands at a rate of 60%. People grow to love certain brands due to the quality of products and services. They often go out of their way to buy from them. • 2. The probability of selling to an existing customer is 60-70%. (Altfeld) The research shows existing customers are much more valuable than new prospects. In fact, loyalty statistics data proves that the probability of selling a product to a new customer stays at a low 5-20%,

3. 3. The Pareto Principle shows 80% of your profits come from just 20% of customers. (Forbes) Vilfredo Pareto’s 80/20 principle works amazingly well with sales and marketing, even a hundred years after its discovery. This means that, by studying the top 20% of your customers, you can work out how to attract similar people and increase your future profits. • 4. 58.7% of internet users believe earning rewards and loyalty points is one of the most valued aspects of the shopping experience. (eMarketer) This was the second most common answer, only below “Quick and easy checkout” in the same product loyalty research, which stood at a high 83%. Rewarding customers for their loyalty in a meaningful way should therefore be one of the top priorities of any business.

4. 5. 87% of Americans are willing to have various details of their activity tracked in exchange for more personalized rewards and brand experiences. (Bond) This correlates with a sharp increase in people’s openness to being observed. And it will lead to a completely new age of brand loyalty. Younger generations are increasingly willing to share more and more of their life with the world, and the trend doesn’t seem likely to slow down any time soon. • 6. Over 70% of consumers are more likely to recommend a brand if it has a good loyalty program. (Bond) Loyalty program statistics and trends show how essential these services are for brands and businesses around the world. So much so that 77% of people are more likely to continue using a brand’s services if it has a loyalty program.

5. 7. 95% of loyalty program members want to engage with their brand’s program through new and emerging technologies. (Bond) People are very interested in engaging with brands through Virtual Reality, Augmented Reality, chatbots, wearables, biometrics, and so on. This very much indicates that following the latest emerging technologies trends and integrating them with your brand can prove to be extremely valuable. • 8. 56% of programs employ game mechanics in their loyalty programs. (AP News) Adding features that are commonly found in games, like virtual rewards and goal-setting, can almost double the levels of customer enjoyment. If customers feel like they are working towards a goal or a reward, they are more likely to stay loyal to a brand and invest even more money into its products.

6. 9. 72% of US adults belong to at least one loyalty program. (Oracle) The research also found that loyalty program members on average belong not just to one, but to nine different ones across multiple industries. Two-thirds of these loyalty programs come from high-frequency businesses like groceries and drugstores. • 10. 77% of brands could disappear, and no one would care. (Vivendi) This figure represents a 3% increase compared to the customer loyalty research from just two years ago. Some of the most prominent brands are still being cherished, but most of the others are quite simply dispensable.

7. 11. Brands which are meaningful and viewed as making the world a better place outperform the stock market by 134%. (Vivendi) As more and more users reward brands and companies that share their personal values, brand activism will continue to rise in importance. That’s why we’re seeing a sharp increase in politicized ads across all industries. • 12. 75% of consumers expect brands to make more of a contribution to their well-being and quality of life. (Havas) Of all those people, only 40% actually believe brands are contributing to their overall quality of life. This brand statistics research shows there is a huge opportunity for smarter businesses to attract new customers and keep them loyal to their brand.

8. 13. 56% of US consumers are not confident that brands have their best interests in mind when they use, share, or store their personal data. (Acquia) Privacy is slowly but surely becoming the priority issue for customers in the US. It is no surprise then that over 78% of people surveyed believed that brands should not be able to use their personal data to market different things to them. • 14. Nearly 50% of customers in the US say brands don’t meet their expectations. (Acquia) This customer loyalty study found a great discrepancy between how customers and marketers view the quality of customer experience. Almost two-thirds of buyers surveyed could not even recall the last time a brand exceeded their expectations, while a staggering 87% of marketers believed they deliver an engaging customer experience.

9. 15. 60% of brand-created content is failing to deliver. (Havas) The majority of consumers think many world-leading brands create only clutter content that has little impact on their lives. Having actual quality content will prove to be a huge advantage in the coming years. • 16. 69% of US consumers say customer service is very important when it comes to their loyalty to a brand. (Microsoft) All branding statistics from the research done by Microsoft shows just how powerful customer service can prove to be for any business out there. It also serves as a word of caution to those businesses that disregard the importance of customer service.

10. 17. 54% of consumers say they’ve had at least one bad customer service experience in the last month. (HubSpot) Bad and annoying experiences with customer service often lead consumers to switch brands, which is made even worse by the fact that people are more willing than ever before to abandon one brand for another. • 18. Revenues for businesses that prioritize customer service rise 4-8% above their market. (Bain) All retention stats like this one show how a superior customer experience helps to improve people’s loyalty to a business. Your satisfied customers will make more purchases and even serve as promoters who make recommendations to their friends, making them extremely valuable.

11. 19. 69% of US marketers believe technology has made it harder for them to offer customers personalized experiences. (Acquia) At first glance, a statistic like this one seems strange, as people assumed technology would resolve these issues. A deeper look, however, reveals a growing concern that the levels of personalized experiences that customers demand are not something they can achieve with current technology. • 20. Satisfied US customers will share their positive experience with 11 different people. (American Express) Americans share a lot of their positive and negative customer service experiences with others. In fact, customer satisfaction statistics show the average American consumer is even more likely to tell 15 others about a negative experience they had with a business.

12. Get In Touch With Us & Create Your Own eCommerce Loyalty Program CheerMe is the leading tier-based Customer loyalty program provider, which helps businesses to build an emotional connection with customers through surprise and delight. With our customer loyalty program solution, you can gift exclusive points to your customers for on-site or in-app actions including, signing up, placing an order, etc. and these points can be redeemed by the customers in the form of discount or coupons on their next purchase. Thus, CheerMe can encourage your customers to shop more from your online store and give them a reason to stick to your brand. CONTACT US • Email:connect@cheerme.io • Phone: +91-8264829512 • Website: cheerme.io/