WizzePay
  • WizzePay
  • Getting Started
    • Quickstart
    • Publish your docs
  • Basics
    • Editor
    • Markdown
    • Images & media
    • Interactive blocks
    • OpenAPI
    • Integrations
  • Wizze Overview
    • Introduction
    • Absctract
    • Global Mission
    • Economic Growth
    • Economic Impacts
  • Economic Value
    • Customer Retention vs. Customer Acquisition
    • Profitability through Repeat Business
    • The Tangible Benefits of Customer Loyalty
      • Increase in Customer Lifetime Value (CLTV)
      • Upselling and Cross-Selling Opportunities
      • Word-of-Mouth Marketing
    • The Economic Impacts of Loyalty Programs
      • Boosting Revenue Growth
      • Reducing Customer Acquisition Costs
      • Enhancing Customer Retention
      • Encouraging Customer Engagement
    • Transforming Customer Service into a Profit Center
    • Conclusion
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  1. Economic Value
  2. The Economic Impacts of Loyalty Programs

Boosting Revenue Growth

A well-designed and implemented loyalty program can significantly boost a company's revenue. For instance, Starbucks reported that its loyalty program was a major contributor to its impressive growth, with Starbucks Rewards members accounting for 47% of the company's US sales in 2020.

This increase in revenue growth is not an isolated incident. According to a study by HelloInsights, members of loyalty programs tend to spend 12% to 18% more than non-members. This can translate into significant revenue increases for businesses that offer well-crafted loyalty programs.

PreviousThe Economic Impacts of Loyalty ProgramsNextReducing Customer Acquisition Costs

Last updated 6 months ago