How many customer loyalty programs are you signed up to? How many are you aware of?
The loyalty program has become an embedded part of the retail industry. Most shoppers are aware of at least one or two customer loyalty programs (even if they’re not part of them).
Bond Brand Loyalty and Visa’s annual Loyalty Report surveyed 55,000 consumers and found that, on average, they were a member of 14.8 loyalty programs. But they were only actively using less than half of them (6.7).
Clearly, just offering a loyalty program is not enough to actually foster loyal, repeat customers. So, what’s actually driving customer loyalty? And why do some programs work when others don’t?