3 tangible benefits of brand loyalty Research undertaken by THE LOYALTY EFFECT found that, building loyalty among 5% more customers will lead to an increased average profit of 25-100%. Research has found that brand loyal customers can spend 10 times more on a brand. http://brandongaille.com/13-online-brand-loyalty-marketing-statistics-and-tips/ Now, this finding arose from research conducted in the United […]

3 tangible benefits of brand loyalty Research undertaken by THE LOYALTY EFFECT found that, building loyalty among 5% more customers will lead to an increased average profit of 25-100%. Research has found that brand loyal customers can spend 10 times more on a brand. http://brandongaille.com/13-online-brand-loyalty-marketing-statistics-and-tips/ Now, this finding arose from research conducted in the United States of America but I would argue that it is equally relevant in Australia and most other developed economies. Brand loyalty delivers three interrelated benefits to business: Increased repeat purchase. Increased referral. Increased margins. Consider: 78% of Apple i-Phone users say that they could not image purchasing anything else and as a consequence the business now has 62% of the smart phone market. (http://www.forbes.com/sites/gordonkelly/2014/03/21/the-majority-of-iphone-users-admit-to-blind-loyalty-why-this-a-problem-for-apple/) 72% of consumers are more likely to purchase a product referred through social media, as the result of comments from a brand loyal customer. (http://blog.hubspot.com/blog/tabid/6307/bid/30239/71-More-Likely-to-Purchase-Based-on-Social-Media-Referrals-Infographic.aspx) Loyal Apple customers consistently pay $200…