Some 71% of consumers who are members of loyalty programs say membership is a meaningful part of their relationships with brands, according to recent research from Bond Brand Loyalty.
The report was based on data from assessments made by 50,000 global consumers on the loyalty programs of 800 brands in a range of sectors, including retail, grocery, CPG, gas, entertainment, and hospitality.
Respondents say the top drivers of satisfaction are whether a loyalty program meets their needs and whether participating in the program is an enjoyable experience.
Consumers are most satisfied with grocery store loyalty programs (50% of respondents are satisfied) and least satisfied with airline loyalty programs (36%).
Some 70% of respondents say they are more likely to recommend a brand with a good loyalty program, 77% say loyalty programs make them more likely to stay with brands, and 63% say they modify their spending habits to maximize loyalty benefits.
Consumers are 27% more likely to modify their spending habits if a brand’s loyalty program establishes an emotional connection.
Some 87% of respondents say they are interested in having a brand monitor their activity/behavior in return for personalized loyalty rewards.
Some 37% of respondents are willing to pay a fee to receive enhanced loyalty program benefits.
About the research: The report was based on data from assessments made by 50,000 global consumers on the loyalty programs of 800 brands in a range of sectors, including retail, grocery, CPG, gas, entertainment, and hospitality.
Ayaz Nanji is an independent digital strategist and a co-founder of ICW Content, a marketing agency specializing in content creation for brands and businesses. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.
LinkedIn: Ayaz Nanji
Twitter: @ayaznanji