eBrief: Credit Card Recognition and Rewards

Credit cards are missing the mark in loyalty and rewards.

 
 

In 2009, U.S. consumer participation in loyalty and rewards programs rose across every demographic segment and grew 19% overall since 2007 (Colloquy, July 2009). Customers join programs with the hope of benefitting more from their consumer experience, yet studies show many customers are dissatisfied. A study by the Chief Marketing Officer Council on MarketingProfs.com sheds light on the source of cutomer dissatisfaction:

  • 70% want more discounts and savings.
  • 58% want better personal benefits and services.
  • 52% want more compelling personal offers as a reward for steering their business to loyalty-program operators.

According to MarketingProfs, “Most consumers surveyed (54%) say the barrage of irrelevant messages, low-value rewards, and impersonal engagement don't particularly engender loyalty.”

Implementing a loyalty program as a quick fix solves nothing. Like any other tactic, loyalty should be integrated into your marketing strategy and help you meet your marketing goals.

 

 

 

Sept. 14, 2010


Comments

 
 
 
  • No complaints on this end, silmpy a good piece.
    Janet