New Mintel research sheds light on customer-loyalty program relationship
CHICAGO Instant gratification translates well among customers that seek incentives for their participation in loyalty programs, according to new research.
Mintel found nearly half (47%) of consumers surveyed said that instant redemption opportunities motivated them to use a particular loyalty program more than others. Such incentives as cash-back opportunities would be a deciding factor, 36% of respondents said.
Mintel also suggested that personalization of redemption opportunities, since most customers are brand loyal, as well as easy-to-redeem savings, can expand customer reach and drive up sales.
"In any sector that utilizes loyalty marketing, loyalty programs are fast becoming a very important part of the relationship with the customer," said Susan Menke, VP and behavioral economist at Mintel Comperemedia. "It seems that now is the time to focus on adding or improving loyalty programs to help engage customers and maintain, and even grow, their relationship with the post-recession consumer."