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When members evaluate and interact with loyalty programs, the experience is unequivocally the main river of satisfaction.
Loyalty programs are among the largest drivers of brand choice as consumers assess their program experience on elements beyond just dividends and rewards.
Loyalty360 will host a webinar titled, “The Battle For Love & Loyalty—Key Findings From The Loyalty Report 2017,” on Thursday, June 22, 2017, at 1 p.m. EDT. The webinar will be presented by Bond Brand Loyalty and the featured speakers are Scott Robinson, vice president design & strategy, Bond Brand Loyalty; and Sean Claessen, executive vice president strategy & innovation, Bond Brand Loyalty.
Robinson and Claessen will present key findings from the Loyalty Report 2017 and highlight opportunities to help brands punch above their weight to differentiate the member experience and increase program performance.
Loyalty360 caught up with Robinson for a sneak peek of Thursday’s webinar.
How can brands differentiate the member experience and increase program performance?
Robinson: Of all the ways in which members interact with and evaluate loyalty programs, the experience matters the most. Experience drivers are more important than monetary drivers in achieving program satisfaction. Earn and burn drivers are important, but it’s the experience that makes the greatest difference in overall satisfaction. The experience–comprising the digital experience, the human touch, and the way in which a program aligns with the brand–offers the greatest opportunity to differentiate from competitors. When the experience is brand-aligned, when it supports the brand promise in a brand-right manner, the program experience is less susceptive to competitive mimicry – and becomes a sustainable form of competitive differentiation for the organization. Often, these experience elements carry higher perceived value, yet are the most cost effective–for instance, priority boarding for air travel program members.
What factors drive member satisfaction today and are those factors much different from five years ago?
Robinson: Members evaluate their program on a variety of attributes, benefits, and experiences. In each year of this study’s long and successful tenure, we have conducted an in-depth analysis to identify the most important factors driving members to be very satisfied with their program. The top five drivers in this year’s study are as follows:
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