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According to the research survey, 62% of U.S. consumers join retail brand loyalty programs to get discounts but only 36% have received a reward or promotion from the program that actually made them come back to the brand. One reason might be the fact that, according to the survey results, 81% of brand loyalty program members don’t understand the benefits they’re supposed to get from the program or how the program works at all.
Brand loyalty programs can provide a lot of benefits to marketers but the more the program is customized for each customers needs the better chance of success.Loyalty is different for each customer. The key is to provide enough loyalty experiences that your best customers are appreciated. As we all know, the 80-20 rule holds true for most retail and restaurant businesses. Find those 20% and figure out what makes them loyal, get to know them. Acknowledge different customers by basing your loyalty program on services that you provide each time they visit. Give your customers something to work towards by offering a tiered program where the best customers receive more points per purchase in appreciation for their long-time support of your business....
Research shows brand loyalty programs can still be effective is there well managed. Here's how.