Bond Brand Loyalty (formerly Maritz Loyalty Marketing) released its comprehensive 2014 Loyalty Report which includes a listing of the top-rated programs based on customer satisfaction.
The report engaged more than 6,000 people to uncover insights on brands and loyalty initiatives. The study included industry verticals such as retail, CPG, banking, travel, and hospitality. The primary findings of the 2014 Report underscore Bond Brand Loyalty’s assertion of the shift in the marketplace with regards to brand-aligned programs, and the increasing importance and relevance of non-monetary rewards.
In its 2014 Ratings and Rankings, Bond Brand Loyalty selected customer satisfaction as the means by which to rate and rank more than 160 programs that have program-level customer feedback. A 5-point scale that ranges from very satisfied to very dissatisfied was used.
The goal was to uncover three things related to satisfaction: Satisfaction score among members participating in each brand’s program; the ranking of each brand among other programs in the category based on these satisfaction scores; and the key drivers of satisfaction in each category,
Overall, the report found that 69% of customers are satisfied with their loyalty programs, which represents a slight change relative to the metrics in the 2013 study.
“The industry should take pride in the fact that two-thirds of participants are generally satisfied, yet we must also acknowledge the call-to-action that the remaining unsatisfied one-third represents,” the report says.
On a category-by-category basis, the perspective is higher than average for some categories. Payment cards, for example, see three quarters of its customers as satisfied, while CPG (65%) is below average compared to other categories.
Below is a list of satisfied members in each category:
· FI Credit Card 75%
· QSR 74%
· Sports & Entertainment 73%
· Retail/Merchant 68%
· Travel 68%
· CPG 65%
· Services 62%
Below are the top three loyalty programs based on customer satisfaction in a variety of categories along with the (top driver of satisfaction):
· CPG (Total earning potential available): Dove, Box Tops for Education, MyCoke Rewards
· Dining–QSR (I am proud to say I am a Member of this program): Papa John’s, My Starbucks Rewards, Denny’s
· Entertainment (Total earning potential available): Stubs, Cinemark, Regal Cinemas
· Payment Cards (Quality of rewards available): Southwest Airlines Rapid Rewards−Chase Credit Card, Amazon.com Rewards Card–Chase, TrueEarnings® Card from Costco and American Express
· Retail–Department (Total earning potential available to reach desired rewards): Kohl’s Rewards, Nordstrom Rewards, JCP Rewards
· Retail–Grocery (Ability to reach desired awards in a timely manner): Giant Eagle (fuelperks!), King Soopers, BI-LO
· Retail–Pharma (Total earning potential available to reach desired rewards): wellness+ (Rite Aid), ExtraCare (CVS), Walgreens Balance Rewards
· Retail–Apparel (Total earning potential available to reach desired rewards): Adidas, Nike, Carter’s/OshKosh B’Gosh
· Services–Telco (I am proud to say I am a member of this program): Verizon, T-Mobile, AT&T
· Travel−Air (Quality of rewards available): JetBlue (TrueBlue Rewards), Alaska Airlines Mileage Plan, American Airlines (AAdvantage)
· Travel–Hospitality (This program is trustworthy): Marriott Rewards, Hilton HHonors, IHG,
According to the report, the top-rated consumer programs in terms of satisfaction were: Amazon Prime, Target REDcard, and Cabela’s Club Rewards (91%, 91%, and 90%, respectively).
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