Loyal customers mean more cash in your pocket.
New research and case studies show the positive impact loyalty and customer advocacy can have on businesses. These statistics so obvious and yet, so many marketers still choose to focus on acquisition over retention.
New is not necessarily always better. Don’t ignore what’s right in front of you. Untapped, potential brand advocates! We’re talking- blowing up message boards-promoting on social channels-wearing head-to-toe SWAG- shouting your names from the rooftops-shopping only at your store- rocking a #1 foam finger-loyal! This example may seem a little extreme but this is an exaggerated preview of what customer loyalty can look like.
To paint a more realistic picture, Keepify (a click-stream data company) put together a solid infographic laying out 14 consumer facts (these are not opinions people… actual facts) stating why marketers should invest their time, money, and overall strategy into existing customers.
Here are a few of our favorites:
- It costs 6 times more to attract a new customer than it does to keep an old one.
- 81% of customers would use social media and word of mouth to tell others about a positive experience with a mobile app.
- In 2011, 7 out of 10 Americans said they were willing to pay more to companies they believe provide excellent customer service.
- Only 12% of current marketing spend goes to customer retention.
