CrowdTwist, a customer loyalty solution, and Brand Innovators surveyed 234 digital marketers at Fortune 500 brands to discover how consumer interactions intersect with loyalty programs. They’ve produced this infographic, the Loyalty Landscape, so marketers could learn how loyalty fits into the overall marketing strategy of an organization. Half of all brands already have a formalized program while 57% said they were going to increase their budget in 2017 Tweet This!
Why are Marketers Investing More in Customer Loyalty Programs?
- Drive Engagement – whether you’re B2B or B2C, ensuring customers are engaged and successful utilizing your products or services will ensure retention and increased value.
- Increase Transactions – keeping top of mind and rewarding customers increases touchpoints and the opportunity to do business with them.
- Increase Spend – since you’ve already broken the trust barrier, current customers will spend more money with you… putting a system in place to reward them is critical.
- Create Connections – rewarding a customer for sharing their testimonial is the best word-of-mouth marketing you can ever invest in.
- Connect/Leverage Data – by understanding what motivates your customers, you’re able to personalize offerings that you know they’ll be interested in.
Acquisition, retention, and upsell can all be positively impacted by a robust customer loyalty program implementation. 57% of all brands view their customer loyalty as successful, 88% when the program is multichannel! Tweet This! Unfortunately, only 17% of brands have a multichannel customer loyalty program due to the obstacles of alignment, deployment, and data collection.
In a culture that relies heavily on social media, online reviews, and brand advocacy to gauge product and brand performance, your ability to deliver great customer experiences is key to rising above the competition.