Consumers Crave More Than Discounts From Loyalty Programs
Last week, my dentist invited me to join their loyalty program. It’s official: The loyalty program is the “go-to” customer relationship marketing tactic.
Most global consumers belong to at least one loyalty program, including 90% of online adults in the US, in Europe-5 (88%), and in Australia (93%). According to Forrester’s Consumer Benchmark Survey, 2024, 54% of US online adults agree that loyalty programs influence what they buy, and 64% agree that programs influence where they make purchases. Most agree that loyalty programs make them feel more connected to the brand.
To keep members engaged in their program, loyalty marketers must appeal to what consumers really want:
- Financial rewards. Year after year, consumers rank monetary benefits like instant discounts, loyalty currencies, and exclusive deals from partners at the top of their list of loyalty program perks. Points and discounts are the hallmark of loyalty programs for a reason. They incentivize customers to join and drive incremental behavior that benefits the brand.
- VIP treatment. Members prioritize financial benefits regardless of region, but they also want a loyalty program that makes them feel special. B2C marketers can do this by providing members with exclusive access to benefits such as limited-release products, first access to deals, and member-only events.
- Simple loyalty experiences. With so many memberships, it’s easy for consumers to feel overwhelmed by all the rules, offers, and benefits. Maximize consumer participation in a loyalty program with intuitive experiences and personalized updates.
For more insights into how consumers feel about loyalty programs, check out our recently published data overview.
Questions? We’d love to help you with your loyalty initiatives. Connect with us by scheduling a guidance session.