Brand Loyalty A MarketPoint Infographic Loyal customers choose to do business with their preferred brands irrespective of lower price options, peer or organizational pressure, persuasive marketing efforts, and ample alternatives © $1.6 trillion 0 D% increase in customer retention can result 9 . in a 40% ift in profit ® The potential revenue up for grabs from switching among consumer brands ' How Much 9% ; are Loyal 80% of business profits cre boyal 77% ot customers sti come from 20% say they have no relationship of its customers $ Worth? with a brand? Brand advocates spend 2X The probability of generating an as much as regular additional sale from an existing customers and have 5X customer is 7X greater the lifetime value ? than from a new prospect ? Why Do Customers Switch Brands? aos Caren eee ns Caer Cees customers Dugan eat RUS ae SURO ETS rit ans Co ae ui ed ea creTicl) east a Gee Rcd or service has increased ICES CLE instead of just sticking or brand if it significantly over the past than they were eu Rule Pensa 10 years! SUR ESET RD Top 3 Reasons Customers Switch’ \ 31%) cheaper prici @ SE eel CDA Cc Percentage of Unfavorable Customer Opinions on Social Media by Industry ' a aon) ecg stereo) Retail NTT Pre Renee & 44% of consumers say of millennials say they are great customer ly they experience is key loyal to brands they buy, OY to driving brand 9 \ oN 89 % loyalty® and 52 % will choose quality over price = Brands Millennials Are Most Loyal to: uw eRe me Re MC cle) mM CMe CLG PayPal, Ralph Lauren, Samsung, Sephora, Target, Under Armour, Verizon, Victoria's Secret ! 13%(@): 70%\ Es) :90%(C3) : 59%) of consumers believe + of loyalty program = * wanttoreceive * of consumers would that brands should use | members consider the } ‘ongoing {be more likely to join loyalty programs to + program a part of their communication from a loyalty program demonstrate their‘ relationship witha | _—loyaltyprograms* + that offers a loyalty © ‘ company * : + smartphone app © 10% of US small businesses credit loyalty ‘0 programs for their repeat business, while Yet only => 9, 57% credit existing customer relationships” BSC l li mV a CCL BIRO fete) Amazon loses $1-2 billion Starbucks increased quarterly Tesco sends a quarterly Tesco per year on Prime, but makes revenue by 11% (to $3.6 Clubcard newsletter in 9 up for it in increased Billion) by implementing the million different versions, transaction frequency My Rewards program offering a highly customized : set of discounts for each Prime members spend an Grelnce leerineneretesieven member average of $1,500 per year million transactions per The newsletter generates a on Amazon.com,compared sas a4 15% of US sales’? 25% response rate, resulting in with $625 for non-Prime an annual revenue members © of more than £100 million’ Cartes B. (2015, December 31), “Customer Loyalty Statistics: 2015 Etition” Access, Retrieved from https//blog accessdevelopment.com/customer-oyalty-statistics-201S-edition * Hobbib, B. (2015, December 14). "10 Ways to Tum Customers into Brand Advocates. Forbes, Retrieved from http://www forbes, com/sites/oracle/2015/12/14/10-ways-to-turn-customers-into-brandadvocates/ Hong, P:(2015, August 5). "12 Experts On Loyalty Marketing Strategy & Why Every Interaction Counts? Momentology. Retreived from http://mww.momentology.com/7286-loyaty-marketing-strategy-experts/ «Kaye, D. (2014, March 14)."3 Secrets to Building Brand Loyalty Inc. Retrieved from http//www nc-com/debra-kaye/3-secrets-o-buldbrandHoyaty html * Ming. (2015, March 3)."The Top Customer Loyalty Programs and Why They Work” Consumer Strategist. Retrieved from http://www.consumerstrategist.comv/top-customer-loyalty-programs/ * Kolowich,L. (2016, July 1). 7 Customer Loyalty Programs That Actually Add Value” HubSpot Blogs, Retrieved from http://blog,hubspot.comyblog/tabid/ 6307 /bid/31990,/7-Customer-Loyalty Programs-That-Actually-Adé-Value.aspx. MeEachern, A. (2014, December 17). “Loyalty Case Study: My Starbucks Rewards’ SweetToothRewards. Retrieved from https://www.sweettoothrewards.com/blog/loyalty-case-studystarbucks-rewards/