Loyalty programs are effective tools in improving a brand’s image and a company’s revenue. As a result, companies compete vigorously to grow their member base, and customers are inundated with offers to join loyalty programs with each in-store or online purchase. However, because there are now so many programs, simply having one is no longer enough to distinguish a brand. Accordingly, companies must develop member-focused marketing strategies that keep the most valued members engaged and prevent them from losing interest in the brand.
Actuarial Services Advanced Analytics Leader, PwC US