Last month at the 2019 Loyalty Expo, Loyalty360’s Mark Johnson unveiled to attendees the 2019 Loyalty Landscape, an extensive report on the state of customer loyalty. Based on data from the fifth annual Loyalty Landscape survey, the report provides an invaluable resource for today’s loyalty marketers. Given the breadth of the report’s data sets and metrics, it contains numerous essentials, but here are four highlights:
- An overwhelming majority of senior level marketers indicated that they will making changes to their programs within the next 12 months.
Some will offer enhanced personalization. Some will beef up their rewards. Some will revamp or relaunch entirely. But the bottom line is, the industry is changing and hardly anyone feels content to take a “set-it-and-forget-it” approach to loyalty.
- Most respondents indicated that their programs were meeting or exceeding their goals, but more than 11 percent stated that they did not know whether their programs were effective or not.
There’s actually more going on here than meets the eye. To begin, 11 percent isn’t a small number, given that in a competitive, data-driven environment, organizations need to be able to measure success. Additionally, now that many loyalty programs serve purposes beyond rewards and redemption (frequently, engagement), we as an industry are figuring out which metrics are best used to measure success in these new efforts.
- More than half of the respondents stated that they felt there was a challenge in getting additional resources for their customer loyalty and customer experience efforts.
Considering that there are more loyalty programs today than at any point in history, this is a problem. It’s for this reason that Loyalty360 is working to build a community of brands; open discussion of the challenges facing brands’ loyalty efforts will bring solutions and opportunities.
- When asked whether they felt their current technology providers understood the needs of their brands regarding personalization strategies, more than half of the respondents expressed that they did not or were unsure.
This is one of the major dilemmas Loyalty360 is exploring now. New technology is arriving every day, but given a survey response like this, it’s clear that there’s a disconnect between loyalty marketers and their tech providers.
Please join us next week on Tuesday, June 24
th, as Loyalty360 CEO Mark Johnson hosts a webinar on the 2019 Loyalty Landscape Report. During the webinar, we’ll share more insights like these to help brands make their crucial decisions.