Columbia-based Merkle, a division of dentsu, has released its 2022 Loyalty Barometer Report to offer insights into how marketers can build more meaningful, lasting customer relationships.
Among the findings are that loyalty programs are no longer just about discounts and transactions. Consumers want brands to go the extra mile to connect with them, and more than 75 percent of consumers say consistent customer experiences and customer service improve their likelihood to do business with a brand. This shift requires brands to build loyalty across the entire customer experience, in close partnership with forward-thinking experience and commerce agencies, using human design principles.
Brand loyalty efforts have traditionally been treated as a siloed marketing program. However, as consumers seek unique and personalized experiences that represent their values, brands need to create a loyalty experience across marketing, sales, product and customer service, according to the report.
It highlights four key takeaways. They include:
● Leverage loyalty to build trust across the entire customer experience, as 79 percent of consumers are more likely to do business with a brand because of its loyalty program.
● Provide expanded financial utility while also delivering emotional benefits, since 73 percent of millennials say a consistent customer experience makes it more likely they will continue to do business with their favorite brand.
● Ditch data and personalization strategies that lack sophistication, as almost 60 percent of consumers said current personalization efforts (via website and marketing communications) have no impact on their likelihood to continue to do business with a brand.
● Create a new dimension of engagement with promotion-based loyalty campaigns, as almost 50 percent of consumers want chance-to-win rewards included within the loyalty experience (up from about 35 percent in 2019).
For the full report, visit www.merkleinc.com/thought–leadership/white-papers/2022-loyalty-barometer-report?utm_source=PressRelease&utm_medium=pr&utm_campaign=2022_Merkle_AMER_Loyalty_Barometer_Report.