Click me
Transcribed

Our love affair with loyalty

PLEXURE Our love affair with loyalty 3.3 billion loyalty program memberships in the USA - 29 per household 42% are actively used STORE Loyalty is top priority for 46% of retailers & part of the brand relationship for 76% of consumers ($ $] US companies spend Switching brands impacts $2 trillion $6 trillion s on loyalty programs annually in potential revenue Highly engaged customers are highly valuable 3x 60% 5x 90% contribution to more likely to stick with a brand more spent more purchases annual revenue 4х 6x 7x more likely to appreciate being reached out to more likely to try new products more likely to always respond to promos A 23% premium over the average customer in share of wallet, profitability and revenue 34% of Millennials are more likely to participate in a reward program for fun 27% would keep participating in a loyalty program because of a competitive game or social element While most loyalty programs simply reward people for buying things. Purchases Activities Gamification 97% 16% 14% Downloads Social media Check-ins 6% 4% 2% Juice 77% of transaction-based loyalty programs fail in the first 2 years Special! But only 11% of loyalty programs personalize rewards based on contextual information To do that you need to go mobile! 48% want mobile loyalty & satisfaction is almost 20% higher among loyalty app users BookS 12% 60% Don't know if there Have downloaded is a mobile app an app 18% of millennials would leave a program that had no smartphone app Share the love; gomobile! Using contextual data to understand what your customer likes, predict visits, prefill orders and randomly surprise them with personalized freebies and discounts goes a long way to creating engagement (and return visits)! 000 External variables Wearables & loT devices In-app usage Social profile Location https://www.colloquy.com/resources/pdt/reports/2015-loyalty-census.pdf https://colloquy.com/letest- http://www.aspect.com/uk/company/news-and-events/press-releas- es/customer-serve-thy-s https://www.eccenture.com/us-envinsight-digital-mprove-customer-experlence ws/tough-lesson-from-our-new-research-report/ y-self-new-study-reveals-millennlals-desire-for-self-service-digital-Interaction-to-change-customer-service-forever nanugericenu omerroetie-access/resource/pdt/relnventing_loyalty_programs.pdf t-rosetta-consulting-study/customer-engagement-from-the-consumers-perspective/ https://www.colloquy.com/resources/pdfreports/Customer-Loyalty-in-2015-and-Beyond.pdf http:// ght-digital-improve-customer-expertence.aspx утероrt-2015 https://bostonretalpartners.com/2015-brp-special-report-loyalty-programs www.plexure.com PLEXURE

Our love affair with loyalty

shared by plexure on Feb 22
60 views
0 shares
0 comments
We’re still in love with loyalty: there are approximately 3.3 billion loyalty program memberships in the USA (around 29 per household – imagine the size of that wallet), on which companies spend a...

Category

Business
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size