True loyalty, a strategic concept developed by Maritz, shatters traditional approaches to loyalty, and proves that loyalty is built and sustained by optimizing the value exchange between the customer and the brand at every stage in the customer’s lifecycle. According to a recent study, enhancing customer loyalty is the number-one issue facing marketers1 at a time when the loyalty landscape has changed so radically that traditional loyalty thinking must be redefined. While there are many factors driving the shift in loyalty, including the economy, waning consumer trust and omni-channel shopping, digital technology and consumer empowerment are having the most dramatic impact on consumer loyalty.
While points programs are still a critical component of true loyalty, points are not the only point. Despite the abundance of points programs, actual consumer loyalty has been on the decline since 20082. The true loyalty lifecycle begins long before the point of transaction, where traditional loyalty programs begin. True loyalty is an emotional bond that is forged between a customer and a company when promises are fulfilled. By successfully activating the true loyalty approach, including Loyalty Marketing, Engagement Marketing and Customer Experience, companies can expect to enjoy long-term sustainable growth.
1. IBM, “From Stretched to Strengthened: Insights from the Global Chief Marketing Officer Study,” October 11, 2011
2. The Deloitte Shift Index, 2011
This white paper is 1 in a series of 4:
1. What Every Business Leader Needs To Know About True Loyalty
2. Insider Tips to Building Next Generation Consumer Loyalty Programs
3. How to Deliver Bottom-Line Results with Engagement Marketing
4. Critical Factors to Ensure a Positive Customer Experience