5 Principles Supporting Lifelong LoyaltyWednesday 16 November 2022
With a world full of choice at the tap of a finger, it’s easy to see how retaining customers has become extremely challenging and an area of great business attention.
Despite a hyper-competitive environment across the Retail, Travel and Hospitality sectors, lifelong customer loyalty shouldn’t be deemed unattainable.
Loyalty programmes have long been used as a mechanism to secure customer loyalty and many have become significantly more sophisticated in recent years.
Many companies are acutely aware of their value. Between 2017 and 2021, the references to ‘loyalty programmes’ in annual reports of major UK retail, travel and hospitality businesses doubled.
While the travel sector led the way, recent innovation has been greatest in sectors adopting loyalty for the first time – such as quick serve restaurants and apparel retailers, with app-based programmes rapidly gaining tens of millions of members, supporting regular digital engagement and material improvement in sales.
Our latest insight unpicks what it takes to generate value from a loyalty programme.
If you’re currently considering what a loyalty, membership or subscription programme could do for your business we’d be delighted to discuss and share our perspectives.Read Publication