Customer Loyalty Statistics – Court Your Employees

Loyalty Statistics: The Ultimate Collection Building loyalty with 5% more customers would lead to an increased average profit per customer of between 25% and 100% (The Loyalty Effect)rnOnly 26% of millennials said they prefer brands their friends use (NewsCred)rnThe most important driver of brand loyalty for millennials is a great product at 77%, followed closely by brand recognition and trust at 69% (NewsCred)rnJust 25% of US consumers consider brand loyalty as something that impacts their buying behavior (Ernst & Young)rn78% of consumers are not loyal to a particular brand (Nielsen)rnOnly 27% of consumers see brand loyalty as important (The Marketing Store)rnA repeat customer spends 67% more than a new one (BIA/Kelsey)rn61% of Americans switch brands due to price (Nielsen)rn28% of consumers are loyal to their providers and brands, and only 31% are willing to recommend those providers and brands to others (Accenture)rnCustomer-Loyalty-Statistics Female consumers (68%) are more loyal to brands than males (55%) (Analytic Partners)rn70% of Millennials think their generation is less brand-loyal than previous generations (Bridge.Over)rn70% of customers cite poor customer service as a reason for not buying from a brand (McKinsey)rn46% modify brands they buy to maximize the loyalty benefits (Maritz)rnCustomers who are fully engaged represent 23% premium in terms of share of wallet, profitability, revenue, and relationship growth (Gallup)rnA Totally Satisfied Customer contributes 2.6 times as much revenue as a Somewhat Satisfied Customer (InfoQuest)rn51% of U.S. consumers switched service providers in the past year due to poor customer service (Accenture)rn85% of consumers say companies could have recognized & rewarded them for doing business with them (Accenture)rn82% of small business owners said that loyal customers were the main way they grow their business (Constant Contact)rn94% of customers who have a low-effort service experience will buy from that same company again (CEB)rn68% of consumers say that coupons generate loyalty (RetailMeNot)rn48% of consumers said that the most critical time to gain their loyalty is when they make their first purchase or begin service (ClickFox)rnConsumers are most loyal to financial service providers (61%) and grocery retailers (47%) (Epsilon)rnOver 50% of consumers who are loyal to a brand are 35-54 years old. Only 12% are in the 18-24 age bracket (Epsilon)rnThings Americans are most loyal to: Their pets (71%), their favorite bands (69%), sports teams (66%), church (55%), and alma mater (49%) (FanXchange)rn58% of consumers share positive experiences when they talk about brands on social (CrowdTwist)rn93% of consumers are more loyal to companies that engage in corporate social responsibility (Cone)rn90% of consumers would stop buying a company’s products when they learned of its irresponsible or deceptive business practices (55% have actively boycotted a company) (Cone)rn78% of consumers have bailed on a transaction because of a poor service experience (American Express)rn46% of consumers said they’re more likely to switch providers than they were 10 years ago (Accenture)rnCheck out our latest blog on customer loyalty relationship management