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Your Loyalty Program Is Working. But Is It Working Hard Enough to Drive Growth?

A strong relationship with your customers doesn't guarantee they’ll use your rewards. Members might stay with your brand yet rarely redeem benefits or spend more because of them. With loyalty budgets rising, you can increase participation and generate greater commercial value from existing members…with the right rewards.

Our latest loyalty program study, Beyond Enrollment: The Wins, Losses and Opportunities in Loyalty, draws on two U.S. surveys of consumers and loyalty decision-makers across membership sectors, comparing what members value and can access with where organizations are investing in rewards, technology and partnerships. 

The findings reveal where loyalty programs do well, where engagement, retention and spending could improve and how travel and cruise benefits could contribute.

The Same Rewards Won't Deliver the Same Results for Every Loyalty Program

A credit union pursuing more cardholder spending, a retailer seeking a larger share of wallet, and an insurer focused on policyholder retention all have different priorities. Their members also have different expectations of loyalty and value. Our research explores how member expectations and benefits can support each.

Beyond Enrollment - Loyalty Program Research Report

Our research examines how travelers define luxury today, highlighting the role of cruise, curated experiences and loyalty programs in expanding access to premium travel. The  findings point to an emerging segment, aspiring luxury travelers, whose premium spend is selective and priority-driven. For loyalty programs, this behavior represents both near-term opportunity and long-term value.

Key takeaways:

 

Everyday value carries different weight

Everyday value carries different weight
More valuable everyday rewards would increase engagement for 52% of retail and membership consumers, versus 40% overall.

Members want more from brands they already use

Members want more from brands they already use
76% are interested in additional benefits through brand partnerships.

Travel offers value beyond standard rewards

Travel offers value beyond standard rewards
66% of consumers say a program with travel and vacation benefits is more valuable than one offering only discounts, points or cash.

Cruise benefits remain hard to find

Cruise benefits remain hard to find
69% of consumers have a cruise booked or are interested in taking one within three years, while 45% say their loyalty programs don't offer cruise benefits.

Your members already have a relationship with your brand. What would make them use your rewards program more often and spend more with you? Discover where your loyalty investment could encourage greater participation, capture more member spending and deliver stronger commercial returns.

Find out in Beyond Enrollment: The Wins, Losses and Opportunities in Loyalty.