Today’s consumers want more from loyalty programs

Gone are the days when just a loyalty card on which points rack up is enough. Today’s consumers want more. They want personalized offers, invites to VIP events, in-store recognition and, of course, offers and discounts.

Recent research from loyalty marketing agency ICLP highlights the demand among consumers for loyalty programs that are engaging and innovative. Demand is highest among Baby Boomers with nearly three-quarters saying they would be encouraged to make purchases with a brand that has a loyalty program. Just over half (58%) of Generation X and 41% of Millennials expressed the same sentiment.

“Nowadays, personal, unique rewards are more important as loyalty drivers than price alone. To win in this competitive retail landscape, brands need to focus on creating loyalty programmes that generate insight and enable retailers to entice customers back with relevant offers – encouraging them to spend and shop more frequently,” says Jason De Winne, General Manager at ICLP.

“From money-can’t-buy experiences to personal greetings and a strong social media presence, customers want to ensure their hard-earned cash is spent with brands that are prepared to invest in a meaningful and personal relationship.”

Additional findings from the report include:

– 63% of shoppers would spend more, or more frequently, with a brand that has a loyalty scheme;

– 36% expect personalized offers when they enter a store;

– 18% would likely spend more in a store if greeted by name and made to feel like a valued customer;

– 22% would shop more frequently with a retailer that sends receipts via email.