In the age of the customer, earning customers’ loyalty involves much more than discounts or incentives. In a new report, Forrester analyzed how companies execute on loyalty strategies and, more specifically, how marketers’ loyalty programs are evolving. The findings suggest that while marketers show signs of maturing and expanding their approach to customer loyalty, they still have a way to go.
Key findings include:
- Retaining existing customers isn’t the only objective of customer loyalty initiatives: One-third of respondents use loyalty to acquire new customers.
- Forty percent of respondents said that personalizing offers and experiences based on behavior is a top challenge, and 30% selected measuring the ROI of their loyalty program as a top challenge facing their loyalty initiatives.
- Eighty percent of respondents plan to increase loyalty spending on making customer experience improvements, while 74% plan to invest in advancing analytics capabilities and 70% plan to enhance mobile loyalty capabilities.
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