Loyalty and Rewards Program = Strong Brand Engagement

Friday, September 05, 2014

A recent survey conducted by Dailybreak Media Survey revealed findings that will make critics and non-believers of Loyalty and Rewards Program jump to the other side of the fence.

The survey will also convince Brand Managers and Chief Marketing Officers to integrate and work closely with their Loyalty Departments.

The general findings in the survey reveals that “ Gen Xers, Millennials and Baby Boomers Alike Willingly Engage With Brands When Incentives are on the Table”.

The implication of this findings forces Brand Managers to recalibrate their strategy by incorporating loyalty and rewards program as one of the tools in achieving the kind of Brand Engagement that they desire.

The most significant results stemmed from the overall popularity among respondents of loyalty program membership:
    83% of survey respondents acknowledged belonging to one or more
brand/store loyalty programs, and 13% said they belonged to five or more;

    Brand loyalty memberships also drove other behaviors, with 64% of
millennials, 79.6% of Gen-X'ers, and 66.2% of baby boomers responding that loyalty programs drove them to interact with a brand online;

    58% of all respondents buy from the stores and brands whose loyalty
programs they belong to at least once a month;

Those identifying as members of Generation X are the most frequent loyalty buyers: 65% buy at least once a month from the stores or brands whose programs they belong to. They're followed closely by baby boomers (60.56%) and 68+ (54.84%).

Here in the Philippines, if we are to extrapolate these findings I believe that the same results will be generated.

If this is the case, where the brands strive to engage the attention-seeking consumers by offering valuable loyalty and rewards program, a very powerful business model will take place. A business model rooted on greater profits to companies that know how to give true added value to the consumers.

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