Companies in our region are ready to adapt to the actively changing loyalty market! 80 percent of North American American companies polled in the North America Customer Loyalty Report 2022 are expecting to make changes to their loyalty program in the next three years.
The North America Customer Loyalty Report 2022 is meant to serve as a decision-making tool for organizations in North America that actively provide or plan to offer a loyalty program in the next few years.
A complementary report
This latest report analyzes global results with data specifically provided by businesses in North America, based on a global survey of more than 320 companies from all parts of the world.
This article summarizes the important trends and issues that North American businesses face when it comes to loyalty program strategies.
Satisfaction, revamp, and investment
According to the Customer Loyalty Report 2022, 63.3 percent of North American companies with a loyalty program are satisfied or very satisfied with their program. That is because loyalty programs have a positive impact on sales, provide a considerable return on investment, and are highly appreciated by the members.
Curiously enough, 80 percent of businesses that currently have a loyalty program intend to revamp it over the next three years! This implies that organizations in North America are not only trying to redesign their loyalty programs when they are not meeting expectations, but also want to make sure they have a cutting-edge loyalty program.
Aiming for greater emotional loyalty
While practically all North American companies are pleased with the results of their loyalty programs, just a handful said that theirs was based on emotional rather than rational loyalty.
As a result, the research demonstrates a key component of the current loyalty program reality: North American loyalty programs are predominantly transactional in nature. Only 10 percent of those polled believe their program is more emotional than rational.
In order to genuinely connect members with the brand over time, North American companies are likely to incorporate more of an emotional aspect into their loyalty programs.
Invest in personalization
The results of the report reveal that North American managers are interested in investing in personalizing the loyalty experience. Actually, 36.7 percent of respondents stated that personalization will be their most significant investment in the next few years, which is higher than the global average of 7.4 percent.
This desire to invest more in personalization correlates to what respondents view as the most important development affecting the loyalty program sector.
Download the North America Customer Loyalty Report 2022 to learn more about:
- the most important loyalty challenges that companies face;
- the major trends that will shape loyalty program strategy development in North America over the next three years;
- the main reasons for companies in North America to provide a loyalty program;
- the role of finance and technology in loyalty strategies;
- concrete suggestions and ideas for developing or improving your strategy and implementing it.
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