Marketers Investing More in Loyalty Programs
Digital marketers will likely begin increasing their investment in loyalty programs next year according to a recent study from CrowdTwist.
The research revealed that 44 percent will "somewhat increase" their loyalty budgets for frequent visitor programs or cards-with-discounts programs while 13 percent will do so "significantly." Only 4 percent they anticipate lowering their current investment.
Additional findings of note from the CrowdTwist study include:
• 38 percent say current loyalty programs are not succeeding or failing
• 26 percent say they don't have a true loyalty program in place
• 31 percent say the focus of their loyalty program is to drive engagement
• 88 percent say having multichannel loyalty programs is 'a must'
"Of all strategies, multichannel integration of consumer data is increasingly a "must," not a "nice to have," as consumer journeys have become more and more fragmented across devices and channels. Limiting channels prohibits the amount of data collected and utilized, as well as the impact of the program's effectiveness in engaging and riving spend," wrote CrowdTwist.
"A whopping 88 percent of respondents with Multichannel loyalty programs rate themselves as success, yet only 17 percent had such programs in place."