What Marketing Needs to Know About Customer Loyalty

What Marketing Needs to Know About Customer Loyalty (Infographic)

Customer retention and loyalty are significant profit drivers for most organizations, as we demonstrated in our own customer retention infographic a few months ago. In most cases, retaining existing customers is more profitable than acquiring new ones.

Are you spending more on marketing than you are on maintaining your current customer base? Statistics on retention like the ones below show that you might want to evaluate that strategy in your own industry and organization.

The folks at Keepify sent us the below infographic: 14 Customer Experience Facts Marketers Can’t Ignore that contains a nice packaging of statistics on customer retention and loyalty.

Read through the infographic and let us know what you think…

Is customer retention the new marketing?

 

 

 

About 

By Adam Toporek. Adam Toporek is an internationally recognized customer service expert, keynote speaker, and workshop leader. He is the author of Be Your Customer's Hero: Real-World Tips & Techniques for the Service Front Lines (2015), as well as the founder of the popular Customers That Stick® blog and co-host of the Crack the Customer Code podcast.

    Find more about me on:
  • googleplus
  • facebook
  • linkedin
  • twitter
  • youtube
2 replies
  1. Jayme Soulati
    Jayme Soulati says:

    Happy Turkey Day, Adam!

    Love this post and also the #RockHot infographic! It’s spot on to name a woman who has disappeared on us…Ms. Erica…

    I don’t think customer retention is the NEW marketing at all. It’s always been there, it’s just that marketing and sales have never bridged to truly work harmoniously and I’m not quite sure why. At least that’s my opinion.

    This should be no revelation to anyone that customer selling opportunities come from within a loyal band of followers and existing A-list customers. Why is it?

    There are some pretty cool things marketing is doing at BMW; do you remember that story? They put kids with iPads in front of the customers to answer any questions at all. When the prospect got hot as a true lead, the kids (called the genius team) turned them over to sales.

    Love that kind of cooperation; it doesn’t have to be for luxury brands only!

    Reply
    • Adam Toporek
      Adam Toporek says:

      I think you nailed it Jayme. The lack of cohesive function among departments is a huge part of the challenge. We will always need new customers, but the higher the acquisition costs, the more important retention becomes. Both cylinders need to be firing — acquisition and retention — under the umbrella of a unified strategy.

      A great Thanksgiving to you and the little one!

      Reply

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *