Customers have higher expectations than ever and companies must deliver more to earn and build loyalty. Our research provides insight into the specific loyalty drivers that programs need to be investing in today. Read our report to learn about where leading loyalty programs are focused and what actions your organization can take to be successful.
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In today’s market, there’s more competition than ever for consumer loyalty. That’s why brands and retailers of all sizes and kinds have turned to loyalty programs to attract customers—and keep them.
But consumer expectations have shifted dramatically, and the old approaches, like an “earn-and-burn” points system, simply won’t meet them. Consumers now want loyalty experiences that are more unique and personalized.
In our new report, Transcending expectations in the new loyalty landscape, we reveal insights, strategies, and findings about consumer drivers from our year of research into more than 115 consumer loyalty programs across 15 industries.
Three distinct loyalty driver categories emerged in our findings, and our report deeply examines all three, showcasing the industries leading the way.
Critical mass: Simple journeys, meaningful destinations
As consumer loyalty offerings continue to evolve from generic points programs, we observe the critical mass of programs shift their focus to: developing more compelling value propositions in support of the brand strategy, and delivering them in more seamless, integrated ways
On the verge: Heightened experiences, tailored choices
As programs move beyond fundamentals, we see market leaders investing in two key areas to entice and retain their members introducing differentiated ways to earn and redeem rewards creating more moments of recognition, exclusivity, and access for members
The next wave: Influential moments, human experience
More than ever, brands and retailers are looking to play a meaningful and multi-dimensional role in the lives of their members. We observe that the most innovative and experimental loyalty programs look to build meaning through: personalizing interactions and experiences building extended loyalty ecosystems, and creating community and belonging
Seize loyalty opportunities
Our 12 months of research reveals the many opportunities brands and retailers have, even in a quickly shifting landscape, to build and evolve their loyalty and engagement strategies. To effectively compete for today’s consumer, loyalty programs must meet table stakes expectations by frictionlessly blending into the brand identity and broader customer experience. As consumers increasingly demand real-time, meaningful, and tailored loyalty connections across their lifecycle, loyalty programs must seek out ways to put the member in control of their experience while creating authentic moments of appreciation and recognition. As maturity evolves, programs must decide the role their program plays in creating personal member relationships, cultivating community, and fostering extended touchpoints across an ecosystem of players.
(Courtesy Deloitte)
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