Why focus on loyalty?
Great question. Let’s look at a few statistics:
- 80% of your future purchases will come from 20% of your current customers. – Gartner
- Word-of-mouth influences three out of every four first-time purchases. – Nielsen
- Returning customers spend 67% more than first-time customers. – Bain
- It costs 5X more to acquire new customers than to keep current ones. – Forrester
Taking these facts into consideration, it’s incredible that the majority of businesses still spend most of their budgets trying to find and bring in new customers. CityGro helps businesses get the most for their time and money by focusing on bringing customers back — time and time again.