Brands are keen to make loyalty initiatives work
Loyalty programs help brands achieve a variety of goals. According to the survey, brands say these are the biggest benefits of loyalty programs: boosting customer referrals through brand advocacy, increasing customer lifetime value, and improving customer retention. These are the main reasons 91% of brands offer some form of rewards phone number list or benefits to loyal customers.
On the surface, brands appear to be doing all the right things. When asked how they reward customer loyalty, their top three answers were:
- Exclusive discounts or offers
- Exclusive events or experiences
- Personalized recommendations
- But despite these promising trends, it Loyalty programs help brands achieve seems brands are facing some key challenges with making loyalty programs work.
Where brands struggle with loyalty programs
The first area of contention highlighted by the report is defining what loyalty actually means to the brand, and therefore what type of behavior the program is designed to encourage and reward. The brands surveyed say they are most likely to define how can i create a broadcast list with more than 256 contacts? loyalty as customer lifetime value, but they may also be looking at customer engagement or range and frequency of purchases. Interestingly, only a third define loyalty on the basis of advocacy, despite referrals being cited as the most important benefit of setting up a loyalty program.
Help is at hand
There’s little doubt that loyalty programs can be beneficial for both the customers that reap the rewards and the brands that rely on them for referrals, retention, and revenue. But if brands want to make the most of this now well-established trend in improving customer experience, the data suggests they’re going to need a little help.
Working with expert partners can help brands continue their quest for exclusivity by making effective use of AI to identify high-value customers and build united states business directory tiered loyalty programs. It can help them implement sophisticated measurement capabilities to monitor program success on an ongoing basis and optimize performance against well-defined benchmarks. And it can help them seamlessly integrate data and systems Loyalty programs help brands achieve China Leadsso they can understand customers’ differing needs and drive personalized interactions that inspire lasting loyalty.
Read Acxiom’s 2025 CX Predictions Report, A Human-Centered Approach to Customer Experience, for more views from senior marketing professionals and consumers, along with expert guidance on how brands can use these insights to grow their business.