Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

US loyalty schemes reach 3.8 billion members

Only 15% growth, down from 26% in 2015

The 3.8 billion tabulation shows that membership growth continues, but has slowed to 15% compared to the 26% growth rate achieved in the 2015 Census when total memberships were 3.3 billion.

The new consumer survey research from the 2017 Census shows that 53% of U.S. consumers identified "easy to use" as the main reason for participating in a loyalty program, topping "gives me great discounts" (39%) and "easy to understand" (37%), among other reasons.

Conversely, the top reason given for abandoning a program was "it took too long to earn points or miles;" a concern cited by 57% of respondents.

Additionally, the COLLOQUY Census shows that 51% of Americans still trust loyalty programs with their personal information.

The latest COLLOQUY Census scratched beyond the surface and analyzed motivators that drive consumer loyalty behavior. The survey research shows that across all sectors the top motivator is, I love the brand, company, retailer or service - purely emotional.

In other key Census results, the retail sector accounts for 1.6 billion reward program memberships, making it the largest slice of the loyalty pie. The biggest driver for active participation within retail is that the program is "easy to understand."

Notably, grocery program memberships dropped to 142 million, compared to 188 million in 2015, continuing a downward trend in three consecutive Census reports. The 24% decrease is due in part to mergers and acquisitions within the industry.

Memberships in the financial services sector continued an upward trend, rising to 664 million versus 578 million in 2015. Cash back incentives led the pack when respondents were asked why they participate in financial loyalty programs.

The travel and hospitality sector, covering airline and hotel programs, plus restaurant, car-rental, cruise line and gaming programs, accounts for 1.1 billion memberships, the 2017 Census shows.

One of the most dynamic loyalty sectors, identified as other/emerging, covers online-only offerings, entertainment, daily deals, point aggregators and card-linked offers. Census research shows U.S. consumers hold a total of 462 million memberships in these evolving programs, and this sector accounts for 12% of the U.S. loyalty market.

The insights uncovered in the 2017 COLLOQUY Loyalty Census can help brands and companies create deeper loyalty and better experiences for consumers. To continue the discussion, COLLOQUY will host a webinar Wednesday, August 16th with advice on turning the results into meaningful change. Registration information will be available on COLLOQUY.com starting July 19.

"The membership growth slowdown signals the U.S. loyalty market is maturing and retailers need to up their game on how to attract and retain members within their loyalty programs," said Melissa Fruend, LoyaltyOne Global Solutions partner and COLLOQUY Census author. "In order to improve loyalty marketing, brands must optimize the overall experience by creating more personalized and relevant experiences for their best customers."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)