The Transformation of Customer Loyalty: A Pan-Industry View

Delivery

This report comes in PPT.

Key Findings

Lifestyle loyalty schemes

Creating lifestyle loyalty programmes has become an essential focus for brands across different industries by rewarding actions rather than purchases. They aim to become part of the everyday lives of their consumers, incentivising wellness and wellbeing behaviours, delivering utility as well as innovative but highly personalised benefits. By forming relevant partnerships and delivering more choices for members with the help of these schemes, brands are able to stand out from the crowd and remain relevant.

Elevating value proposition vital more than ever

As consumers become savvier, they seek to gain more added value from their regular purchases and from their membership participation. This is forcing brands to adapt and deliver wide-ranging rewards offerings, more prestigious membership status, enjoyable experiences, and personalised services.

Communities and co-creation in huge demand

Building a brand community as part of the loyalty programmes is imperative for deepening the customer engagement, supporting peer-to-peer interaction and social impact initiatives, creating more lasting relationships with members and ultimately accessing vital feedback and information about the brand’s customer base. Brand communities are the perfect platform for product and marketing co-creation with the business, which further entices more innovation as well as loyal and top-spending consumers.

Innovation and technology revive stale legacy structures

In a time of technological disruption and innovation, customer loyalty is changing. Companies are embracing new business models to expand the potential of loyalty schemes, ensure borderless reach and deliver new incentives. With digitalisation extending its reach, using mobile strategies to drive loyalty is essential, and in turn offers a direct connection to the customer.