The Rise of Premium Loyalty: What Do Your Customers Expect in 2020?

A New Decade of Premium Loyalty

A new decade signals a fresh start. For retail brands, 2020 presents an opportunity to drive major change in the way they attract and retain customers going forward.

In 2020, loyalty is critical: Nearly two-thirds of customers say their loyalty is more difficult for retailers to maintain than ever before, confirming what we already know to be true: With unlimited choices at customers’ fingertips, earning loyalty today takes more than just a plastic punch card or weekly coupon. Consumers expect more than just traditional loyalty programs to keep them coming back – they expect the instant benefits and experiences that premium loyalty programs can offer.

Premium loyalty programs give retailers’ most dedicated customers instant, 24/7 transactional benefits like discounts and free shipping as well as top-tier experiences in exchange for an annual or monthly membership fee. Rather than requiring your customers to spend now to receive benefits later, premium loyalty programs give customers what they want, when they want it. As a result, premium loyalty members have higher engagement rates and often become valuable brand ambassadors that bring in even more satisfied customers.

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