In our lives “before” – before COVID-19, before massive economic disruption, before increasing unemployment – it was okay if you primarily saw your loyalty program as a means to drive more transactions for your brands. In fact, that was probably working for you pretty well. But we’re in a different market now, one where consumers are suddenly evaluating brands and purchase decisions very differently.
If you have pondered the future (and potential extinction) of points-based customer loyalty programs, it's worth taking note of a debate that briefly raged at a Loyalty Academy Conference hosted by The Wise Marketer.
I have a confession to make. I’m a point hoarder. You know, when I earn points, hotel nights, or miles in a loyalty program or my employee engagement program at Maritz Motivation, I like to accumulate a lot so I can use them to get something meaningful. For example, when one of my best friends invited me to join her on an incentive trip to Maui earlier this year, I treated us to a fabulous spa at the Fairmont on Wailea Beach. Our massages at the luxury resort were rather pricey, but you know what they cost me? Nothing. I used my points that I earned at work.
Consumers have opinions on just about everything. So, what if a company’s loyalty program rewarded customers for the opinions that matter most to the business?
What does customer loyalty look like outside of the United States? How are companies around the world addressing the evolving challenges of customer retention? And what can US loyalty marketers learn from their global counterparts?
The State of Global Loyalty: A Conversation about Turkey
What does customer loyalty look like outside of the U.S.? How are companies around the world addressing the evolving challenges of customer retention? And what can U.S. loyalty marketers learn from their global counterparts?
The State of Global Loyalty: A Conversation about Latin America
Consumers are human beings first. This is important to keep in mind when you think about building customer loyalty.
I am a data driven consumer. I am a millennial with disposable income (though less and less with two kids). I am conscious about a company’s ethics and their social giving. But the most important thing you need to know about me as a consumer? I suffer from decision paralysis.