Marketers Worldwide Look to Loyalty Programs
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.