Future of Loyalty Programs

Customers today are digital, smart, aware and need quick solutions. They desire seamless, compelling and more personalised brand experiences be it the airline they chose to fly or the grocery store they buy from.

In order to create true loyalty and to give better experiences, brands today are thinking beyond traditional plastic card based programs. A recent study revealed that

  • 92% of consumers use loyalty schemes at least once a month.
  • 30% revealed they often forget to bring their loyalty card with them when they go shopping
  • 75% said they would like their loyalty card to be linked to their payment card.

Whilst the ubiquitous ‘card’ is still the norm, the mere necessity of carrying a wallet full of plastic cards is a thing of the past. Be it an app on phone, payment card or NFC enabled phones, the card based approach is inevitably being eroded. One of the best examples for this is showcased successfully by Starbuck My Rewards programs. For eg. Starbucks already allows its customers to pay via their app, which is arguably the most compelling part of the overall loyalty proposition for customers.

The future of loyalty programs is now moving away from push marketing and more towards making life easier for the customer by offering experiences based on customer feedback. Loyalty programs today and in the near future will increasingly become more aligned to this and become a channel for creating connections with customers on a personal level.

A Recent study shows that customers have several key motivations for enrolling for and using loyalty programs:

  • 7% : saving money
  • 5% : receiving rewards

It is quite obvious that users are looking for more ways to save money or to be rewarded for actions and interactions.

Having said that, in this digital era, loyalty programs have become fundamentally more about value exchange rather than about selling products and services while serving customers better. One such step that we have taken to serve you better is with our #LoyaltyPassportApp, that lets you store, track and manage over 1750+ memberships across categories. Download Now for Android https://goo.gl/zGoG6m Apple https://goo.gl/9bHO7L and enjoy a seamless digital experience for all your Loyalty Programs.

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