The Latest Report by Upside Saving
Do you know what loyalty is worth?
21st September 2021
Written by Tom Peace
Loyal customers are worth 22 times more than average customers
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7,500 Consumer spending habits analysed.
120+ large national retailer conversations.
The feedback was consistent:
- Customer loyalty was heavily affected during lockdown and is proving hard to get back.
- National lockdowns have made it harder (if not impossible) to plan.
- Customer Acquisition Costs (CAC) have gone up.
- Competition over the same scarce resources has increased. The impact of Brexit and - Covid on supply chains has been profound.
- The focus is on the quality of sales and margins, not just volume.
Upside’s detailed analysis of consumer spending behaviour will help you to understand:
1. The “tipping point of loyalty” for your customers - the number of purchases necessary to make a customer loyal.
2. How much more valuable a loyal customer is and how to identify them.
3. What loyalty looks like within the different retail verticals.
Armed with these insights, and with access to spend data like this in your own business, you’ll be able to:
Know the value of you each individual customer.
Spend your marketing budget selectively to create high value customers.
Apply the minimum effective dose of loyalty incentives to keep your most valuable customers loyal to you.