According to a Global Survey, 72 percent respondents, stated that Loyalty Programs are the key determinant for their shopping decision. According to the report “In fact, almost two-thirds (72%) of global respondents agree that, all other factors equal, they’ll buy from a retailer with a loyalty program over one without.”
All Loyalty Programs are not created equal. Here are some of the insights for features that are found to be more appealing than others, according to The Nielsen Global Loyalty-Sentiment Survey among 30000 online consumers in 63 countries.
Flexibility in Loyalty programs was seen to be the most appealing feature. The ability to earn rewards across channels was seen as one of the draws for a loyalty program. As high as 81 percent respondents liked that they could earn rewards in-store, online or on mobile and 79 percent liked the ability to choose from rewards.
Personalized rewards based on past purchase activity was seen as very important by 77 percent of respondents. Personalized products or service recommendations was seen as attractive by 60 percent of respondents.
Rewards linked to a purchase activity was seen as appealing by 70 percent of respondents. Opportunity to earn bonus was seen to be an important feature by 76 percent of the respondents. Points and rewards for referrals was seen to be important by 67 percent of respondents. Tiered programs were seen as important by 60 percent of rewards programs.
Technology played a significant role in the choice of Loyalty Programs. Some of the features that were found appealing are Integration with Mobile Payment System so that the rewards can be automatically earned and used. The other Technology related benefits that nearly 60 percent of respondents found important are earning of rewards by sharing on Social Networks, Store specific Loyalty program and integration with Third Party programs.
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