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Retail reward programs no guarantee of customer loyalty

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Loyalty programs started as far back as 1896, when stores would give out “green stamps&# that could eventually be redeemed for household products. Today most people have at least one loyalty card, but the constant barrage of worthless emails and low-value rewards have people discontinuing the programs. photo credit: CLF.

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Why Engagement Strategies & Investment Are Important for Customer Retention

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To keep customers engaged, it is important for a loyalty program to focus on their needs & aspirations to ensure they feel satisfied in their relationship with a brand. So, focusing on making customer retention rate stay high can create a tremendous competitive advantage for a brand and lead them to growth.

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Strengthening Brand Experience in the Grocery Industry

Second to None

Whether it is product location, stock updates, nutritional facts, or product reviews, workers should act as reliable resources for customers. Data shows that 55% of people would not return to stores with poor customer engagement. [5] Today, many customers want an interactive experience at their grocery store. 3] [link].

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Strengthening Brand Experience in the Grocery Industry

Second to None

Whether it is product location, stock updates, nutritional facts, or product reviews, workers should act as reliable resources for customers. Data shows that 55% of people would not return to stores with poor customer engagement. [5] Today, many customers want an interactive experience at their grocery store. 3] [link].

Brands 48
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Loyalty programs: should you issue your own points or miles?

Currency Alliance

Many loyalty program members will now be accustomed to similar liquidity enhancements, such as exchanging your American Express Membership Rewards Points into Avios or Bonvoy. Remember, your loyalty goal is not to issue the maximum number of points, but for the maximum number of customers to see joining your program as worthwhile.

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Innovators break the mould, at the 2020 Loyalty Magazine Awards

Currency Alliance

While travel and retail brands have made a lot of progress in the last 24 months, the bulk of innovation has come from other consumer sectors – including media businesses, entertainment, and telecoms providers, which in recent years appeared to regard loyalty as a lost cause. So the initiative offers meaningful utility to many customers.

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Reconsidering Loyalty: Top Loyalty Trends for 2019

Currency Alliance

Reward programs still have an important part to play in this effort; but they are only part of the picture. YouGov data from the UK shows that even the youth demographic – supposedly disloyal – thinks that points programs “are a good way for brands to reward customers and 59% think all brands should offer one.”.

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