[UPDATE] 7 Customer Loyalty Programs That Actually Add Value

Did you know it costs a business about 5-10X more to acquire a new customer than it does to sell to an existing one? Not only that, but on average, current customers spend 67% more than new customers.  In light of statistics like these, businesses must think about what they are doing to keep their customers coming back to their business. And if you’re like 65% of marketers, your company has implemented a loyalty program. But is your loyalty program working? According to the 2015 Colloquy Customer Loyalty Census, American households hold memberships in an average of 29 loyalty programs, but are active (meaning earn or redeem at least one per year) in only 12 of them. Companies lose money on time and effort, and customers get no more value from the businesses to which they are

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