A recent survey conducted by
Dailybreak Media Survey revealed findings that will make critics and
non-believers of Loyalty and Rewards Program jump to the other side of the
fence.
The survey will also
convince Brand Managers and Chief Marketing Officers to integrate and work
closely with their Loyalty Departments.
The general findings in the
survey reveals that “ Gen Xers,
Millennials and Baby Boomers Alike Willingly Engage With Brands When Incentives
are on the Table”.
The implication of this
findings forces Brand Managers to recalibrate their strategy by incorporating
loyalty and rewards program as one of the tools in achieving the kind of Brand
Engagement that they desire.
The most significant results stemmed from the overall
popularity among respondents of loyalty program membership:
•
83% of survey respondents acknowledged
belonging to one or more
brand/store loyalty programs, and 13%
said they belonged to five or more;
•
Brand loyalty memberships also drove
other behaviors, with 64% of
millennials, 79.6% of Gen-X'ers, and
66.2% of baby boomers responding that loyalty programs drove them to interact
with a brand online;
•
58% of all respondents buy from the stores
and brands whose loyalty
programs they belong to at least once a
month;
Those identifying as members of Generation X are the most
frequent loyalty buyers: 65% buy at least once a month from the stores or
brands whose programs they belong to. They're followed closely by baby boomers
(60.56%) and 68+ (54.84%).
Here in the Philippines, if we are to extrapolate these
findings I believe that the same results will be generated.
If this is the case, where the brands strive to engage the
attention-seeking consumers by offering valuable loyalty and rewards program, a
very powerful business model will take place. A business model rooted on greater
profits to companies that know how to give true added value to the consumers.
- Friday, September 05, 2014
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