The hidden value of redemption joy in driving dynamic value exchange in loyalty programs
The modern customer craves constant value when it comes to their loyalty program. They want tangible returns on their purchases in the shape of defined and relevant ways to spend their rewards currency. They want experiences that let them flexibly earn and spend. They want complete satisfaction.
Our 2024 Power of Satisfaction research uncovers the preferences and opinions of over 5,500 active loyalty program members from across the world, as we set out to define the idea of ‘complete satisfaction’ in a modern loyalty program.
With 83% of loyalty program members surveyed redeeming currency at least once within the past three months, programs have a significant opportunity to maximize customer engagement and delight with relevant offers.
Additionally, since 49% of respondents cited a simple redemption process as a key factor, ensuring your loyalty program is easy to use will boost customer satisfaction and increase their earning rate.
This global study delves into the hallmarks of a successful loyalty program that can deliver serious bottom line returns, as well as revealing exactly what your customers want and how you can give it to them. Armed with these priceless insights, brands will be well-equipped to navigate through this competitive and challenging market with a sustainable and future-proof loyalty program strategy.
Download the report below to find out:
- - Which factors make a customer want to redeem currency again and, most crucially, more often
- - The biggest drivers of satisfaction and dissatisfaction in a loyalty program
- - Why complete customer satisfaction is a loyalty program’s new key differentiator
- - The secret power of non-core inventory in driving faster earning
