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The 2015 Loyalty Landscape: The State of the Industry report is now available! Click the button at the bottom of this page to access the full report.
The Loyalty Landscape reveals the current state of customer loyalty by analyzing budgets, performance benchmarks, challenges, customer data trends and more, based on a survey of more than 300 marketers conducted between December 11, 2014 and March 19, 2015. Key takeaways from the 2015 report include:
Brands are expanding loyalty strategies beyond the traditional loyalty program functionality. Customer experience and customer engagement are becoming critical parts of the customer loyalty scheme. Budget allocation to customer loyalty is on the rise.
The expansion of loyalty as process, not just a program, is creating growing pains. Brands say they are struggling to accurately measure the costs, impact and success. Companies are still relying on short-term metrics to assess loyalty tactics and strategies, despite the notion that loyalty happens in the long-term.
Customers are enrolling in programs, but brands fail to keep them engaged and active. Program membership and retention rates are strong, but active participation and reward redemption rates are below 50% for most brands.
Winners of the Loyalty360 Awards are taking a different approach than the market at-large and see success as a result. While the winners were more likely than the market at-large to use a traditional points-based program, they also recognize the importance of including a wide variety of tactical components in their loyalty strategy. The group is also using a wider range of metrics to assess loyalty marketing effectiveness.
To assess the full report, including more detailed analysis of the key points above, click “Add to Cart” below.
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