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Five For Friday – Customer Loyalty Programs

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In response to a request from a dear friend (and we could never refuse a request from such a friend!), we’re dedicating this Five For Friday to customer loyalty programs.  Below are five stats you may not have seen before about the industry.

  1. Businesses can boost profits by almost 100% in five years by retaining only 5% of their customers (Harvard Business Review)
  2. 50% of customers surveyed said they would be more likely to patronize a restaurant that had a loyalty program (National Restaurant Association)
  3. In a well constructed loyalty card program a customer will spend between 20% and 25% more each visit (The Loyalty Myth)
  4. Over 68% of U.S. households said that loyalty card programs were important in their shopping decisions (AC Nielsen Survey)
  5. 82% of Americans participating in customer loyalty programs have referred friends and family to their favorite loyalty programs (2007/2008 Customer Loyalty Research Report by Parago)

And because this friend loves herself some Starbucks Gold loyalty card, here are a few interesting articles authored on the program:

http://cruftbox.com/blog/archives/001534.html

http://hinessight.blogs.com/hinessight/2010/04/im-strangely-proud-of-my-starbucks-gold-card.html

http://www.facebook.com/topic.php?topic=14511&post=93238&uid=22092443056

 

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Posted by

Growth obsessed startup co-founder (MusicBox) and strategist-for-hire. startupgrowthguy.com mymusicbox.me

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