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10 Quotes from the 2020 Loyalty Summary Report

Creating a positive, personalized experience for your customers results in increased loyalty and retention. Source: Bond 2020 Loyalty Summary Report

By

Compu-Mail

Posted

October 8, 2020

This post is based on information found in the Bond 2020 Loyalty Summary Report, which is “the world’s largest study of loyalty, engagement, and known-customer experience.”

We read the report and pulled out 10 important quotes about customer loyalty to help your organization better engage with your customers.

General Loyalty Quotes

“Loyalty continues to bring positive outcomes for Brands, and the impact on advocacy, retention, and spend (or “say, stay, spend”) remains strong.”
“Members who receive relevant offers that become more relevant over time are 8× more likely to go out of their way to use them.”
“72% of respondents say they are more likely to recommend brands with good loyalty programs.”
“78% of respondents say programs make them more likely to continue doing business with Brands.”
“Only one in four members strongly agrees that program representatives make them feel special and recognized, but programs getting this right experience 47% higher engagement.”
“Programs achieve a 3.7x lift in satisfaction and 47% higher engagement among Members who strongly agree its representatives help them get the most out of it.”
“Only 2/5 of Members strongly agree that Loyalty Programs and their associated co-branded credit cards are working together seamlessly.”

Engagement Drivers

“The Experience accounts for 3/4.”
“Earn + Burn accounts for 24%.”
“Recognition + Support, Personal Relevance, and Ease + Enjoyment each account for 12%.”

The Bottom Line

Creating a positive, personalized experience for your customers results in increased loyalty and retention.

Editor's Note:

These quotes are attributed to Bond Brand Loyalty, Inc. Please do not list Compu-Mail as the source if you share this page.

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