The Value of Retention

Customer retention is a valuable loyalty aspect. From developing your customer database to accessing easy to use and read reports, Points to Partners (P2P) can provide a Loyalty Program that meets these needs.
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The Social Anex recently shared blog recently shared 2016’s Most Important Customer Loyalty Statistics here.

These seven customer loyalty statistics are especially poignant: 

"A 2008 survey found that is costs 500% more to acquire new customers than it does to keep current ones.

The cost of bringing a new customer up to the same level of profitability as an old one is up to 16x more.

82% of companies agree that retention is cheaper to execute than acquisition.

Lowering your customer churn rate by 5% can increase your profitability by 25-125%.

On average, loyal customers are worth up to 10x as much as their first purchase.

The average repeat customer spends 67% more in their 31st to 36th months of their relationship with a business than in months 0-6.

1% of a retail website’s users generate as much as 40% of its revenue."

Customer retention is a valuable loyalty aspect.  From developing your customer database to accessing easy to use and read reports, Points to Partners (P2P) can provide a Loyalty Program that meets these needs. 

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