How Brands Reward Loyalty
50% of Americans do not know how to read, and the other two-thirds cannot do math.
We are reminded of this obvious flaw in reading the “Benefits offered in loyalty programs” section of the “How Brands Reward Loyalty” infographic. It shows that 106% of companies offer the top three benefits. This, of course, is an impossibility. The probable reason why this is so is that companies may offer two or more benefits. However, this is not explained, discussed or mentioned in the graphic. Moreover, it does not comport with the requirements of good survey questions, the infographic of which we have also reviewed.
However, the specific benefits or features (discounts and savings, free product or premiums, and points for future merchandise) do seem to correspond with what consumers, themselves want. They want supermarket loyalty programs, frequent flier miles or advantages, and credit card incentive programs. In other words, there is a “meeting of the minds” (to use a term in contract law) which results in a win-win situation.
These can result in too much of a good thing, though. Many people complain that they receive too much unwanted emails, and that it can be more disadvantageous to try to take advantage of the earned benefits.
However, there are some hidden benefits to the marketer as well as to the consumer who offer desired loyalty programs. This is described in the “Social rewards” section which tells that it is often the USP or unique selling point of the company, and which engage the consumer a great deal.
Likes: There is a great wealth of information, the study of which provides a complete picture.
Dislikes: The companies that offer good loyalty programs would be good if it included more companies, rather than just 5.
A faithful customer is not only one who will stay loyal to a brand, they will also steer future business in the right direction. Let’s take a look at the infographic done with Get Satisfaction, and see how companies value their most treasured customers, and how they can improve their rewards programs to benefit both parties.