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The Low Bar of Loyalty Marketing
Yesterday Loyalty 360 published our perspective on the state of Loyalty Marketing. It might not be a surprise to readers of this blogue but we think there is tremendous opportunity for marketing leaders to do significantly better than today’s status quo.
While this perspective on the loyalty industry is just our opinion, there are two surveys in progress that are worth nothing and participating in. Loyalty Leaders, an initiative of the highly regarded CMO Council, is conducting both a consumer survey and a marketer survey. These studies will put some numbers behind the effectiveness of loyalty initiatives, from the standpoint of marketers who are making the investments and consumers who are (or are not) benefiting from them.
To participate in the consumer survey, click here.
To participate in the marketer survey, click here.
The results of these surveys will be released later this year. As a Partner and Faculty member of Loyalty Leaders, we were privileged to get a preliminary read on the interim results of the consumer survey. Not surprisingly, the single biggest positive benefit seen is “discounts and savings” while the biggest negative is – yes, you guessed right – “receiving too much spam email and junk mail”.
Also interesting, in terms of program participation, the highly transactional businesses like grocery stores and airlines lead while more subscription-like businesses like internet/cable and health/fitness clubs are last. Not quite ironic but the last time we looked, these two latter categories suffer very high churn.
The surveys will be up for a good bit more...maybe we'll be surprised. Go fill them out and we'll report back when the results are released.
