5 Essential Benefits of Loyalty Programs

April 6, 2022

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Various marketing strategies retain customers and encourage them to spend more. A loyalty program is one way businesses encourage customers to keep using their services and products. Loyalty programs provide customers with incentives such as reward points,  gift cards , and privileged access to new merchandise.

   

If you are unsure how a loyalty program can impact your business, these statistics should guide you.  75%  of consumers would switch brands for a better loyalty program. Additionally, 52% of customers will prioritize brands with points and rewards. Other essential benefits of loyalty programs include:


1. Customer Retention

Loyal customers spend  67%  more than new customers. At the same time, it is more expensive to acquire new customers than to retain existing ones. These statistics show how a loyalty program is an essential marketing strategy.

   

Members of a customer loyalty program bring more value even in low seasons. Loyalty programs turn existing customers into loyal ones.


2. Increased Customer Lifetime Value

Customer lifetime value CLV is the net profit from a customer's long-term relationship. CLV tracks customer value and forecasts their worth in the future.

   

With our loyalty program, you can calculate the CLV for each customer, gaining important insights to strategize your loyalty program.


3. Boost Profits

Of course, one major outcome of customer retention and strategic planning is profits. A loyalty program keeps a steady flow of revenue. Giving your loyal customers rewards and special deals makes them feel more inclined to shop with your brand.


4. Create Brand Advocates

 While loyalty programs cater to existing customers, they also help attract new ones. Your "brand advocates" are more likely to refer their friends and families to your brand.

   

Past  research  shows that people trust word-of-mouth recommendations from family and friends more than other forms of marketing.



5. Improve Brand Reputation

Loyalty programs that reward customers with great deals help improve their brand reputation. You can persuade customers to stick with your brand by making them feel valued.

Creating positive connections with customers makes them feel good when using your services or products. They are more likely to talk about your brand to their colleagues or followers on social media.

   

Contact us  for more information about how a loyalty program can help your business. Evolv can help you get started today!

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Evolv Earns Spot on the 2026 Inc. 5000 List of America's Fastest-Growing Private Companies NEWBURGH, IN – August 11, 2026 – Inc., the leading media brand and playbook for the entrepreneurs and business leaders shaping our future, today announced that Evolv has been named to the annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. This year, Evolv ranked No. 2,378 nationally, No. 188 in Financial Services, and No. 27 among Indiana-based companies. The Inc. 5000 provides a data-driven snapshot of the nation's most successful independent and entrepreneurial businesses. Past honorees include companies such as Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, and Patagonia. "Being recognized on the Inc. 5000 for a second consecutive year is an incredible honor," said Allan Noe, CEO & President of Evolv . "Moving up to No. 2,378 nationally reflects the hard work of our entire team, the trust of our partners and customers, and our continued commitment to innovation. As we continue to grow, our focus remains the same—helping businesses increase sales, reduce costs, and mitigate risk while delivering exceptional service." This year's Inc. 5000 honorees demonstrated remarkable resilience and sustained growth despite continued economic challenges and an evolving business landscape. Together, these companies represent the strength and innovation of America's entrepreneurial economy. The complete 2026 Inc. 5000 rankings, including company profiles and a searchable database by industry and location, can be found at www.inc.com/inc5000 . "Making the Inc. 5000 is always a remarkable achievement, but earning a spot this year speaks volumes about a company's tenacity and clarity of vision," said Mike Hofman, Editor-in-Chief of Inc. "These businesses have continued to innovate, adapt, and grow despite ongoing economic uncertainty. Their success demonstrates the enduring strength of entrepreneurship and its vital role in driving the U.S. economy." About Evolv Founded in 1998, Evolv partners with financial institutions, associations, independent sales organizations, and businesses nationwide to deliver innovative payment acceptance and business growth solutions. As a multi-processor sales organization, Evolv offers a comprehensive portfolio of payment technologies, including point-of-sale systems, payment gateways, and processing solutions. Through its digital marketing division, VIV, Evolv also provides website development, SEO, social media management, paid advertising, and other digital marketing services. Today, Evolv supports more than 18,000 businesses , processes over $7 billion annually , and remains committed to helping merchants increase sales, reduce costs, and mitigate risk. Learn more at poweredbyevolv.com . Methodology Companies on the 2026 Inc. 5000 are ranked according to percentage revenue growth over the three-year measurement period established by Inc. To qualify, companies must be U.S.-based, privately held, for-profit, and independent. Additional eligibility requirements and the complete methodology are available at www.inc.com/inc5000 .  About Inc. Inc. is the leading media brand and playbook for entrepreneurs and business leaders shaping the future. Through its journalism, Inc. informs, educates, and elevates the profile of innovators, risk-takers, and business builders creating the next generation of successful companies. Inc. is published by Mansueto Ventures LLC alongside Fast Company. For more information, visit www.inc.com .
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