8/30/2016
A Closer Look at Loyalty
Ann-Marie Vazzano
Only 22% of loyalty program members feel very satisfied with the level of personalization they experience with a program, according to the 2016 Bond Loyalty Report, and just 24% strongly agree that they love their loyalty program. This could have something to do with the fact that just 23% are satisfied with the way rewards can be earned in their programs.
Regardless of their satisfaction, though, the majority of loyalty program members (66%) modify how much they spend in order to maximize their points. On the flipside, more than one-fifth of respondents said they’ve never made a loyalty program redemption. Those consumers are 2.3 times more likely to defect from a program than those who’ve redeemed rewards in the last year. So what’s the best way to satisfy your loyalty program members? Make them feel special. According to the report, program satisfaction is 2.7 times higher for members who feel special or are recognized by the brand’s representatives.
GP