While the acquisition of new loyalty members is incredibly valuable, customer retention is often overlooked.
Inspiring existing members to re-engage with your brand is cost-efficient and can reignite a long-lasting brand-consumer relationship. Over time, a large percent of loyalty program members will become inactive and standard platform mechanics often fail to grab the attention of lapsed members, successfully re-engaging them.
Here are 3 stats to keep in mind when combatting customer retention issues:
1. A typical U.S. household is enrolled in 19 to 29 different loyalty programs, however, it only actively uses 5 to 12 of them. (Colloquy)
2. 80% of ‘switchers’ feel the company could have done something to retain them. (Accenture)
3. 61% of consumers say receiving an offer from a brand they had not interacted with in a long time would encourage them to reconnect. (Equation Research)
By utilizing the Quikly platform, clients see a 2-3X increase in reactivated lapsed members compared to a program's existing strategies. Quikly provides an incentive structure that motivates immediate, active participation and generates insight as to why those members became at-risk.