What’s the ROI on your loyalty program?
Building an effective loyalty program is a time-consuming task that requires serious trial-and-error from multiple areas of the organization. Discovering how to appeal to shoppers and keep them coming back while ensuring the program stays profitable is a challenge even for established brands.
However, our research shows that it’s worth the trouble. Survey results indicate that consumers are overwhelmingly more likely to shop at a brand if they belong to their loyalty program.
Likelihood of loyalty club members to shop again
73% of consumers – almost three quarters – say they’re more likely to buy from a store if they belong to a loyalty club. And over 21% responded that it makes them extremely likely to purchase from that brand again. While consumers may be more easily swayed by price amid economic uncertainty, loyalty programs remain an effective sales driver.
Loyalty programs demonstrate to consumers exactly how much a retailer appreciates their attention, time, and money. Building a successful one depends largely on retailers knowing what customers want and how to deliver them offers that they value.
Ultimately, every retailer is unique, and so are its customers. To uncover what shoppers really want in a loyalty program, every business needs a Voice of Customer solution to collect, track and measure customer sentiment and feedback. Bizrate Insights’ comprehensive solutions allow retailers of all sizes to build the best-in-class customer experiences that create true brand loyalty. To schedule your free demo, click here.