36.5% will spend more if they are brand loyal Brand loyalty is the key to repeat business and maximising the lifetime value of a customer. The value of a loyal customer is well documented. One study found that brand loyal shoppers expect to spend 36.5% more when they shop. Repeat business driven by loyalty can […]

36.5% will spend more if they are brand loyal Brand loyalty is the key to repeat business and maximising the lifetime value of a customer. The value of a loyal customer is well documented. One study found that brand loyal shoppers expect to spend 36.5% more when they shop. Repeat business driven by loyalty can be one of the most cost-effective avenues to increasing profitability. It is, therefore, strange that only 30% of businesses have a documented repeat business strategy.Among the more common loyalty strategies are ‘reward programmes’ which offer points, discounts, products and the like. These programmes are common because more often than not, they work. Some 57% of consumers respond positively to reward programmes. Another approach, which may or may not include a rewards programme, is a brand community. Some 61% of corporations in the United States report having or being in the process of developing a brand…