What Drives YOUR Loyalty? | Tell Us How Customer Rewards Should Improve!
According to a Research Brief article by Jack Loechner, titled “Loyalty Programs Need to Engage“, a recent study has revealed that “both customers and marketers agree that deeper engagement and personalized contact drives loyalty”, and that “marketers are mostly inducing loyalty with discounts or free products and premiums rather than quicker, better service or improved customer handling”.
How do you feel about this? Many companies are beginning to offer discounts, coupons, or special offers to their loyal customers…but how many of those companies are actually trying to step up their customer service as well? I don’t know about you, but I don’t think that discounted prices should EVER be a replacement for quality service!
Jack Loechner’s article also mentions the following statistics in regard to customer loyalty programs:
- 79% of consumers surveyed say they are very, or pretty, satisfied with their loyalty and rewards program experiences
- 70% want to see more discounts and savings
- 52% want more compelling personal deals and offers as reward for steering their business to loyalty program operators
- 58% say they want more compelling personal benefits and services, as well as more relevant offers or individualized deals
It seems that the 58% who would like more individualized deals are on to something. It doesn’t seem very personalized to send out the same reward offer to every customer, does it? If more companies had knowledgeable staff to make personal recommendations or to give out exclusive offers, then maybe it would make more of an impact on customers. On the other hand, depending on the size of the business and the size of its staff, it can be difficult to tailor rewards programs to that extent.
What do YOU think about customer loyalty programs? Are they worth it, or are they lacking in some way? Do any of the facts or statistics from Jack Loechner’s article shock you? Tell us about your experiences – we’d LOVE to hear from you! Thanks for reading the Quality Logo Products blog!