It seems these days everyone has a loyalty program – coffee shops, restaurants, airlines, education associations, hotels, retailers, etc.
And if you’re not currently rewarding your loyal customers and members for their stellar engagement and dedication to your brand or organization, then it's probably time to get moving.
Why? Because 70% of consumers are more likely to recommend a brand with a good loyalty program, 77% say loyalty programs make them more likely to stay with brands, and 63% say they modify their spending habits to maximize loyalty benefits.
Not only are a lot of businesses, brands and organizations offering loyalty programs, member benefits and discount programs, but a lot of consumers and members are actively participating in them, too.
We're talking 43% of 18-24 year olds, 57% of 25-34 year olds, 66% of 35-44 year olds, 71% of 55-64 year olds and 65% of 65+ years who currently participate in at least one loyalty program.
After all, if a loyalty program is going to effectively do its job – creating higher engagement and long-term loyalty among users – then it has to offer relevant value. So let’s find out what members think is and isn’t valuable when it comes to loyalty programs – at least according to the data.
We’ve ranked these loyalty attributes on a scale of “Heck Yes” → “Nice to Have” → “No Thanks.