According to the CMO Council, marketers worldwide look to loyalty programs to improve customer retention rates and value, teach them about consumers’ motivations and prospects and to help keep a targeted and focused line of communication.
Seventy percent of Internet users would participate in loyalty and rewards programs if there was a form of financial inducement or savings. Only 3% of Internet users see access to an online community of members as an incentive to participate in such a program. One major factor affecting participation in a loyalty program was spam.
What benefits do marketers see in using loyalty club insights and analytics? More than half of marketers use the statistics to acquire and retain higher-value customers. Forty-six percent of marketers look to insights and analytics to improve targeting and segmentation.