There has never been a more exciting time to be in the customer loyalty business. Every day it feels like some new technology hits the market (especially in the mobile world) or some company is going above and beyond to do something great for their customers.
There are a record 2.65 billion loyalty program memberships in the US, a 26.7% jump from 2010. The average household contains 21.9 loyalty programs, up from 18.4 two years ago. These figures are from the latest Colloquy Loyalty Census, which serves as a snapshot of the industry as a whole and the verticals within.
We previously summarized the Maritz Loyalty Report, which had some great information that mostly pointed toward growing interest in loyalty programs, but waning engagement. Not surprisingly, Colloquy’s findings point in the same direction: there is a consumer hunger for loyalty programs – to be recognized, engaged, rewarded – and a lack of fulfillment by brands in meeting those desires.
Of those 2.65 billion memberships, members are active in less than half of them (44%.) Describing “active” as “members who have engaged at least once in the past 12 months,” Colloquy says this number is growing, but at a slower rate than overall memberships (21% to 26.7%.)