Why invest in a loyalty rewards program

On an average, businesses spend 90% of their marketing budget for customer acquisition i.e. acquiring new customers and getting them to make their first purchase. But few make enough effort to retain these customers – leaving them vulnerable to be stolen by their competitors.

A balanced approach that focuses equally hard on customer retention is a sound business strategy.

The below infographic reveals the importance of a loyal customer and highlights the top 3 reasons of investing in a loyalty rewards program.