Forrester recently surveyed global B2C marketing decision makers who own their brands’ loyalty strategy and found that many are showing signs of trying to mature and expand their approach to customer loyalty beyond just points, discounts, and incentives.
Key findings from this new research include:
- Engagement, retention, and acquisition are the top business objectives this year for customer loyalty initiatives.
- 84% of respondents believe their initiatives are effective at boosting customer profitability, and a majority of them state that loyalty strategies are improving customer engagement, share of wallet, and customer advocacy.
- 80% of marketers are planning to spend more on customer experience improvements, while 65% are planning to spend more on experimenting with innovative engagement strategies. This indicates their continued focus on expanding loyalty strategies beyond material value propositions.
- 30% of respondents identified measuring the ROI of their loyalty program as a top challenge facing their loyalty initiatives.
- 74% of respondents said they collect customer preference data, but only 45% use this data to personalize loyalty offers, communications, or other interactions.
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