Loyalty programs are proving valuable with consumers and are paying off in more ways than one.
That's the feedback from Bond Brand Loyalty and its sixth annual loyalty report. The report was conducted in collaboration with Visa and is the largest of its kind, according to a news release.
The report obtained responses from roughly 12,000 U.S. and 7,000 Canadian consumers on 58 different loyalty program dimensions including actual behavior changes as the result of such programs.
Major findings reveal consumer satisfaction with such programs remains steady — at the same 32 percent rate as last year — despite significant innovations. The study also found that although such programs are challenging to pull off, those who do it well not only cut operational costs, but also have substantial positive effects on customer behavior.
View more key findings in Fast Casual's full article.