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Customer Retention Stats | Reward Program Info | Customer Insight
5 Interesting (and Alarming) Customer Stats
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Here are a few interesting (and alarming) customer service facts as a reminder of just how important the entire customer experience is!
- 78% of consumers have bailed on a transaction or not made an intended purchase because of poor customer service
- Over 50% of consumers would try a new brand or company to get better customer service
- 70% of Americans (and 69% of Canadians) said they are willing to spend more with companies they believe provide excellent customer service
- Over 80% of consumers believe that smaller companies place a greater emphasis on customer service than large businesses
- Consumers in USA and Canada tell an average of 9 people about a good experience but tell 16 people about a poor customer service experience
How to Engage Millennials With Your Loyalty Program
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The Millennial demographic (born between 1981 - 1997) have different values when it comes to loyalty. Recent COLLOQUY: Customer Loyalty 2015 & Beyond study reveals that 34% of Millennials considered "fun" to be the word that best describes their participation in a customer reward program. Millennials indicated that they joined a loyalty program for the primary reason of acquiring access to members-only sales, products, and services. They seek out exclusive member-only access perks and enjoy gamification-based programs such as tiers where they can work towards gaining additional benefits. 49% of participants said they have stopped using merchant loyalty programs because of irrelevant communications. When speaking to this group, ensure that you're collecting smart data to understand your customer better and send them messages that make sense. Get to know their preferences. Get to know them! If they recently purchased iPhone accessories from your company, then they would likely be interested to learn that you just received some new iPhone gadgets to help them personalize their phone - and better yet - invite them in for a sneak preview before the general public!
Fix Negative Customer Experiences Before it's Too Late!
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If a customer leaves your business with a poor experience, will you know about it? Today, customers are more likely to share their service experiences with others online, with 45% sharing bad customer service reviews via social media. Now more than ever, businesses need to be ensuring every customer service experience is a positive one with fear that negative comments may end up online forever! While you can’t watch and listen to your employees’ every move you can find out how your customers felt about their visit minutes after they leave your store.
Customer Service is Directly Related to Customer Loyalty
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Great customer service is directly related to increased customer spending and overall customer loyalty.
An infographic by KISSmetrics shows how much of an impact customer service can have on your business. Because your customers are twice as likely to talk about bad customer service than good service, it’s so important to remember that loyalty programs are not simply a quick fix. Without consistently providing great customer service, 89% of your customers are likely to stop doing business with you.
51% say companies are impersonal while 36% say they want personalized experiences and that’s really where loyalty programs can help you collect important customer data and offer a personalized experience and relevant communication.