Loyalty programs enjoy unflagging popularity among both organizers and customers. Their number on the market is constantly growing – they are launched by global corporations, but also by local stores. They all have one goal: to keep the customer for longer.
- A customer who registers for the program is 60% more likely to make a purchase.
- A loyal customer usually spends up to 50% more than a new one.
In addition, the pandemic has contributed to a change in brand awareness. Many companies, mainly thanks to their loyal customer base, were able to survive the crisis time. In turn, the announcement of the phasing out of third-party cookies has made brands increasingly understand the need to build their own databases and see the loyalty program as an investment rather than an additional cost.
According to Capgemini’s Reinventing Loyalty Programs for the Digital Age report, 77% of loyalty programs based solely on transactional discounts will not survive more than two years. What makes some loyalty programs successful, while others – seemingly very similar to them – fail?
Learn the 10 criteria that will contribute to project success.