Creating customer loyalty is one of the smartest things that a brand can focus on in 2019.
How big is the loyalty market?
Honestly, it’s huge. The latest customer loyalty statistics can give you a great insight into what people want to see from your business today and what you can do to create an emotional connection so that they stick with you in the long run.
So, we’re going to present you with some hard hitting customer loyalty statistics in this guide that you should not ignore if you want your business to grow.
Let’s dive right in.
Below you’ll find 18 customer loyalty stats that will blow your mind. Pay attention and see what changes you can make to grow your business, retain your customers, and ensure they stay loyal to you in the long run.
Nearly 80% of the British population are members of a loyalty program. Around 85% of British women are members of a loyalty programme, compared to 70% of men. Both are keen to sign up to loyalty programs and will have more of an incentive to work with you if you have one.
Your customer retention percentage could shoot up if you introduce a loyalty program. The customer loyalty stats don’t lie!
Taking a closer look at customer retention statistics UK shows us that as many as 3 out of 5 customers don’t believe brands are doing enough to reward them for being loyal.
Are you paying attention to customer engagement and loyalty? If not, you won’t be able to provide further rewards and incentives to your audience. You need to let them know they are important to you.
In fact, customer loyalty statistics UK suggest that you should find creative ways of rewarding your loyal customers – the more personalised the better.
Your most loyal customers, the top 10%, spend around three times more than the average customer. This is further proof that you should be doing what you can with these customer engagement statistics to reward those most loyal to your brand.
If customer loyalty statistics for 2019 can teach us anything, it’s that by utilising your best customers and making them feel like they matter, you will benefit. It may not be enough to look at customer loyalty programs uk. Sending free gifts and paying close attention to what your audience is telling you will make the biggest difference.
Read that again, slowly. A massive 80% of your future profit is likely going to come from a fifth of your loyal customers. Another huge reason to treat your loyal customers like royalty.
(More than Accountants)
The statistics on customer loyalty show that most companies agree focusing on retention is smarter and more beneficial than putting a focus on acquiring new prospects.
If your main focus is on bringing in new customers, you’re likely spending far more than you need to.
When it comes to customer satisfaction retention and loyalty, you shouldn’t just focus on loyalty programs and sending out free gifts. It’s important to make your values known. Ideally, they will align with your target audience. You should care about the environment, and make an effort to make a difference, for instance.
The thing is:
Many loyal customer stats show that customers prefer to work with green businesses in 2019.
So, by becoming a more eco-friendly business, you could improve your own customer retention stats 2019.
We’ve touched on loyalty programs already, but let’s take a closer look. Plenty of customer retention stats prove that your loyalty program should be more than a card you stamp. Customers want to be able to engage with programs via virtual reality and other cutting edge technology.
How can you incorporate cutting edge technology into your business?
That’s up to you to figure out! Whatever you do, don’t ignore these telling customer loyalty statistics UK!
There are numerous ways you can ensure your audience members are emotionally connected to your business. You can create an app, and aim to make your audience’s lives easier when working with or ordering from you. You can also tell your brand story – although you have to stay authentic. You want your audience to relate to you.
Customer loyalty UK is no joke. If you can create an emotional connection with your audience, you will enjoy 4 times greater lifetime value from them.
(More than Accountants)
You might be surprised to learn this customer loyalty rate. Loyal customers tend to spend a third more than new prospects. This is why customer retention should be your main focus.
A substantial minority of unsatisfied customers will tell a lot of people about a poor customer experience. If a customer is unhappy, they will tell people, and this won’t do anything for your good reputation. Unfortunately, customers tend to be far more vocal about bad experiences than good ones, at least that’s what these customer experience statistics suggest.
Consumer loyalty statistics show that a good experience would encourage two-thirds of consumers to stay longer and/or spend more money. By simply providing a consistent, good experience, you will encourage customers to spend more with you, both at once and over time.
Ensuring your customers come back to you time and time again isn’t just about incorporating customer loyalty programs for small business. It’s about making sure the entire experience with your brand is positive. This extends to returning a product to you, should they wish to.
Customer loyalty statistics show that the vast majority of shoppers will buy more in the long run if a retailer has free returns. Nobody wants to lose out because they didn’t end up liking the product they ordered, and this is a great way to encourage people to buy. Free and easy returns are always appreciated!
Customer loyalty trends show that you can keep your audience engaged with surprised offers and gifts. What will you give your audience to show them that they matter?
Increasing customer loyalty is about even the smallest of details – such as having a fully functional website with no issues.
What percentage of a company’s profits come from long term customers?
The answer is 80%. Make sure your customers actually want to stay with you in the long run.
Klarna know the value of customer loyalty and retention, and that’s why their service enables shoppers to hand over cash once they’ve decided to keep an item.
Figuring out how to increase customer loyalty doesn’t have to be difficult. Customer loyalty stats 2019 show that almost half of consumers won’t come back to you once you have disappointed them.
Here’s the deal:
Loyal customer statistics have to be something you start utilising if you’re going to retain your customers.
One of the benefits of customer loyalty is a 306% lifetime value when you manage to create the emotional relationship we mentioned earlier!
What is a good customer retention percentage? Usually, anything above 35% is considered above average. The higher you can push this, the better.
And on that note:
These customer loyalty statistics should have clued you in as to why keeping your customers connected to your brand is so important.
Ignoring the latest customer loyalty statistics here could mean having to watch your business stagnate. You will have a higher percentage of loyal customers when you make sure their entire experience with you is a positive one.
So, which of our stats did you find particularly revealing? Let us know in the comments below.