Many loyalty programs include perks that are designed to give a firm's best customers a differentiated experience. But do they deliver? In this brief, we answer that question by comparing the Customer Experience Index (CX Index™) scores given by loyalty program members versus nonmembers across four industries — airlines, car rental providers, hotels, and retailers. Customer experience (CX) pros can use this research to understand which parts of the experience loyalty programs actually help and which they don't as well as their unique impact across the three most common types of loyalty — advocacy, retention, and enrichment.