Navigating the loyalty landscape, a terrain that is always evolving, means constantly being on the lookout for the next big thing. The masterminds of modern loyalty programs are keenly that loyalty has moved well beyond the point-heavy system it once was and know not only the current loyalty landscape, but are aware of every shift and where it’s heading.
Here are several significant shifts in the loyalty landscape that brands looking to boost their loyalty programs should be aware of:
Transactional to Experiential
Modern loyalty programs are built on far more than transactions. They exemplify brand values and create emotional connections. Yet, according to Forrester’s Loyalty Playbook, less than half of loyalty marketers use experiential benefits or personalization to tailor offers and brand interactions. Strong programs make the most of all customer data to create a fuller experience that inspires deeper loyalty. That means going beyond behavioral loyalty that is quantified through transactional tactics to more meaningful, authentic experiential engagements.
Static to Dynamic
The world of “setting it and forgetting it” with your loyalty program is long gone. To keep your customers engaged, you need to mix things up frequently. There’s also no room for lookalike loyalty programs. Your loyalty solution needs to be as unique as your business and customer base!
Copycat to Unique
There’s also no longer room for lookalike loyalty programs. Your loyalty solution needs to be as unique as your business and customer base. The strategies (point bank, engagement, membership) and tactics (punch cards,coupons, social media) may seem familiar, but the programs are more diverse than ever as brands put unique spins on these traditional tools.
Learn more about how to transform your loyalty program for this new terrain, check out some great case studies and see how your program measures up in the modern loyalty program in The Essential Guide to Modern Loyalty Programs: