Nowadays most brands understand how important loyalty programs are for the success of their business. Loyalty programs don't just reward customers for their spending. They also encourage sales and increase brand perception in the process.
In fact, according to Accenture, they’re so prevalent that in the US alone there are 3.3 billion loyalty program memberships. That equates to 10 per citizen, and even more if you only count active consumers.
Not having a loyalty program is an immediate turn off for many consumers. But even having one is far from enough to guarantee customer satisfaction.
Because loyalty programs are now so common, the threshold for what consumers consider worthwhile is much higher. Basic referral programs with minimal personalization and generic rewards are everywhere. But these two factors really matter to consumers.
There’s no single trick or quick fix that will make your company the best at customer loyalty. What’s required is an investment in the concept and the processes behind it.
A business needs to understand why and how customers develop loyalty. Only then can they change internal processes and what they offer to customers. Once an ideal forumla is reached, customers will view the brand much more favorably. Loyalty will then follow.
Customer loyalty campaigns are one of the core features of Talon.One’s Promotion Engine. So we’ve created an exclusive Customer Loyalty Playbook to help guide you.
You'll learn why customer loyalty is such an important factor for businesses and how to approach it if you haven't already. We also explore the motivations behind customer loyalty and how you can use them to your advantage.