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There are a lot of loyalty programs out there that don’t do justice to the term loyalty. On average, consumers belong to eight loyalty programs. Do the companies that offer loyalty programs really understand loyalty? Or are they just implementing programs to keep up with their peers?
Did you know that 56% of affluent middle-class Americans are currently members of bank loyalty initiatives? However, only 23% of consumers
say that offers or deals they receive from businesses are relevant to them. The remaining 77% think the offers they receive via email or mail completely miss the mark in terms of relevancy.
More and more consumers are becoming exhausted with the constant stream of offers or deals they’re barraged with daily. A phenomenon that is known as ‘offer fatigue‘ – a customer’s resistance to reading through yet another deal, coming at them via every communication channel imaginable....
Marc Franco shares his thoughts on the current state of loyalty programs, how miserably they're failing and how big data analytics is the next logical step.