A 5% reduction in lost customers can increase profits by up to 75%.



Stat: A 5% reduction in lost customers can increase profits by up to 75%.

Stat Categories: Loyalty Program / Rewards Stats

Tags: loyalty program loyalty program,rewards loyalty program,rewards,miles loyalty program,rewards,miles,points

Years:

Stat Source: Loyalty Magic

Publisher (site that mentioned this stat): LoyaltyLeaders.org

Submitted By: Michael Raeford

Related Categories: None


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Stat Data / Info Details
The retail industry, although it makes up 40% of all loyalty program memberships, issue... See Full Stat Info
44% of consumers have had a negative experience with a loyalty program. See Full Stat Info
32.3% of consumers said the recession has made their participation in retail rewards pr... See Full Stat Info
According to Cardweb.com, 40 percent of all Visa and MasterCard issuers now operate a r... See Full Stat Info
81% of loyalty member don?t know the program benefits or how/when they will receive rew... See Full Stat Info
Reward redemption among the top nine airlines rose last year but only 8 percent of all ... See Full Stat Info
Participation in rewards and loyalty programs rose by 19% across the board since 2007. ... See Full Stat Info
Membership of loyalty schemes is more widespread among older people (46% of 18-29 year ... See Full Stat Info
According to recent UK studies, 96% of their population are currently a member of a rew... See Full Stat Info
The Northeast (70 percent) and West (63 percent) have the highest concentration of stor... See Full Stat Info
79 percent of Australians felt more or equally loyal to brands in the presence of effec... See Full Stat Info
One-third of consumers find retail loyalty programs "more important" when battling toug... See Full Stat Info
UK marketers are tentatively embracing Web 2.0 technologies, with 17% now saying that t... See Full Stat Info
Customer spending is 46% higher with companies that offer reward card programs. See Full Stat Info
Good customer service (34%) was the single aspect most likely to encourage people to sp... See Full Stat Info
57% of respondents have introduced new measures in the past 12 months to help build rel... See Full Stat Info
OTAs accounted for approximately 99 million of roughly 1 billion roomnights sold in the... See Full Stat Info
Participation in loyalty programs - especially among younger adults - has risen 19% sin... See Full Stat Info
Seventy-three percent of customers who are enrolled in rewards programs say that they h... See Full Stat Info
96% of people are currently a member of a reward scheme and 64% of people belong to thr... See Full Stat Info
Over half (50.7 per cent) of US supermarkets now offer savings through frequent shopper... See Full Stat Info
Reward program members are 70% more likely to be WOM champions (defined as those who ar... See Full Stat Info
Over three-quarters of the consumer population hold some form of loyalty or rewards car... See Full Stat Info
The financial services sector is the biggest provider of rewards at $18 billion a year See Full Stat Info
While the average U.S. household has enrolled in more than 18 loyalty programs, they ar... See Full Stat Info
Members of loyalty programs tend to be more affluent, with incomes of $100,000 or higher See Full Stat Info


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