Loyal customers are an organization’s most valuable asset. They generate more revenue – buying 5-20 percent more frequently than more infrequent customers– and their positive customer reviews help brands stand out among competitors.
That kind of loyalty should be rewarded – and protected – and customers agree. In fact, almost all (93 percent) of consumers expect their rewards program to have fraud protections in place.
Loyalty fraud: How would your customers react?
Without proper rewards fraud protections, brands risk exposing loyal customers. And should they fall victim to an instance of loyalty program fraud, how would they react?
- 26% would cancel their rewards program membership.
- 17% would stop doing business with the company altogether.
- 37% would tell others about their account being exposed.
Loyalty fraud: Calculate the cost
Cancelled rewards accounts. Lost customers. Negative word of mouth. The total of those losses can devastate an organization’s bottom line.
But just how much would an instance of loyalty program fraud impact your brand?
Our Loyalty Fraud Product Manager Laura Hurdelbrink walks through a methodology to help your brand calculate the potential cost of this very real threat in a webinar on "The Real Cost of Loyalty Fraud." Click on the link below for details and to download the recording.