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Your customers want to be rewarded for their loyalty. But most don’t want to be rewarded sometime in the future. Today’s consumers want their loyalty rewards to be instantaneous.
Consumers don’t want to sign up to loyalty programs that require them to spend months saving up enough points for a battery operated torch that they don’t really want.
Instead, almost half (47%) of consumers surveyed by Mintel said they were more motivated to join loyalty programs that provided instant gratification, such as cashback and discounts at the point of purchase.
Once they’ve joined a loyalty program, most consumers want to be rewarded with product discounts, exclusive merchandise and holidays they normally wouldn’t be able to indulge in.
Of particular interest was Mintel’s finding that collecting air miles, or similar travel points, isn’t as popular today as it once was. Just 7% of those surveyed said a program that offers airline miles would be an effective incentive to choose one over another.
“In any sector that utilizes loyalty marketing, loyalty programs are fast becoming a very important part of the relationship with the customer,” said Susan Menke, VP and behavioral economist at Mintel Comperemedia.
“It seems that now is the time to focus on adding or improving loyalty programs to help engage customers and maintain, and even grow, their relationship with the post-recession consumer.”
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