“Brands need to deliver distinctive and diverse personalized offers, research shows, and that means having integrated systems that offer a 360-degree view of the customer,” writes Sean Hargave in the UK’s MarketingWeek. The article summarizes recent Forrester Consulting research conducted in the UK sponsored by Comarch, a leading marketing agency.
"Despite the popularity of loyalty programs in the UK, the study finds that 16% of programs are less than a year old and 58% are between one and two years old.” Three out of four were launched during or after the pandemic, about the same for B2B programs.
The article reports that “Nielsen research suggests 84% of customers are more willing to buy from companies if they have a loyalty program and, according to Accenture, a member of a loyalty program will normally spend 57% more with a business than a non-member. Additionally, previous research at Comarch found the average member of a loyalty scheme will typically carry out 3.5 more transactions per year than a non-member.”
The study shows an opportunity to use analytics to better understand individual customer needs.
Just over a quarter of respondents (28%) reveal they are either working on or already provide personalized offers.
Christopher Sandstrom, Comarch’s director of growth and strategy for the Americas, says “What really blew our minds was seeing how little customer data is actually being used to tailor promotions and offers across not only new programs but mature ones.”
At CarltonOne, our programs not only provide actionable data on user engagement, but leverage AI to enhance the reward experience with more personalized offers.
https://www.marketingweek.com/the-biggest-barriers-and-enablers-to-effective-loyalty-programmes/
