Brands and consumers are reaping the rewards of loyalty programs. However, new data from Bond Brand Loyalty suggests loyalty programs are falling short when it comes to personalization.
The 2016 Bond Loyalty Report, produced in collaboration with Visa, found the vast majority of Canadians (80%) say loyalty programs make them more likely to continue doing business with brands. In addition, 68% of consumers modify the brands/companies they purchase from to maximize points—up from 65% in 2015—and 63% of consumers modify amounts spent to maximize points.
While one in two members agree that personalization from loyalty programs is important, only 12% report being “very satisfied” with the level of personalization they’re getting.
Read more in Marketing Mag including the top 2 programs in leading categories.