Loyalty Programs – the Good and the Bad
Brands use loyalty programs to great effect — some, like Clicks and Spur, attribute a large percentage of sales to their loyalty programs. But it’s no magic bullet: loyalty programs need to be customer-focused — they need to offer real value.
According to consumer agency Truth, consumer use of brand loyalty programs increased by 26% in the past year. But at the same time, there is still an untapped market: some 30% of consumers do not subscribe to any loyalty programs at all.
Financial Mail looks into Truth’s findings, and offers up some valuable insights.