Learn Where the Loyalty Market Is Headed – Global Customer Loyalty Report 2022
December 8, 2021
In order to help marketers and loyalty professionals navigate the current market environment, Antavo compiled an insightful loyalty report on the current and future state of the loyalty market with additional insights from PwC. The report provides brands the momentum and relevance they need by helping them make the right decisions for their loyalty program. What makes this loyalty report unique on the market? It includes data from worldwide respondents, and not only loyalty program end-users participated, but loyalty program creators as well.
Considering the loyalty management market will be worth $15.5 billion by 2025, this is the perfect chance for brands, retailers and enterprises to become early adopters and stay ahead of the curve. The concept of loyalty programs is changing. The traditional, purely transaction-based loyalty model no longer aligns with the vision of modern brands. The Global Customer Loyalty Report 2022 reveals that a large percentage of up-and-coming loyalty programs will be emotional, meaning that they will emphasize long-term engagement and customer satisfaction. 77.3% of companies whose loyalty program doesn’t reward member behavior outside of the buying cycle plan to change that within the next three years.
The report is meant to be an action plan for companies, helping leaders make informed decisions based on an accurate analysis of the current market so they can increase their loyalty program’s performance, drive important business KPIs, and build stronger, longer-term relationships with their customers.
The report utilizes insight shared by over 320 corporate survey respondents, including CMOs, CRM executives, and loyalty professionals, from all over the world. Furthermore, the behavioral data from 25 million member actions tracked via Antavo’s Loyalty Management system ensure a 360-degree view, giving you a better understanding of how companies are investing in loyalty right now.
You’ll also discover insights on loyalty programs and ROI in the report, for example, 56.0% of program owners are satisfied or very satisfied with their loyalty program, claiming that their existing reward program contributes to sales, delivers great ROI, and is popular among customers. Interestingly, 72% of companies with loyalty programs plan to revamp in the next three years. And 93.1% of companies with loyalty programs reported having a positive ROI.
“The biggest virtue of a loyalty program is that it changes customer behavior and generates loyalty. If you’re already running a loyalty program when a global crisis hits, then you most likely already have an engaged and invested audience you can lean on. Customers that are halfway through the next tier, or sitting on unspent points are unlikely to abandon you altogether.
And in regards to crisis management and loyalty programs, we shouldn’t forget about the power of data either, especially now, when zero-party data — which can be easily gathered with a loyalty program — is gaining more significance due to new privacy laws. If you can leverage customer data to build a more personal and emotional relationship with customers, it’s more likely that the negative impact of the crisis will be lower on your business, because you can more effectively prevent churn, stay relevant, and rebound faster once the situation normalizes.” Attila Kecsmar – CEO & Co-founder of Antavo.
The Global Customer Loyalty Report 2022 is now available for download: https://antavo.com/global-customer-loyalty-report-2022/
Antavo is a pure-play loyalty technology provider that builds comprehensive loyalty programs to foster brand love and change customer behavior for brands, retailers, and shopping malls. With a scalable and holistic loyalty logic, Antavo supercharges the marketing strategy of omnichannel and e-commerce companies, and delivers a next-level shopping experience with best-in-class in-store capabilities. Antavo was listed as a Representative Vendor in Gartner’s 2020 Market Guide for Loyalty Management and was included in Forrester’s Now Tech: Loyalty Marketing Q4 2020 and Now Tech: Promotions And Offer Management Providers, Q3 2021 reports. As a global company, Antavo empowers clients like BMW, Lagardere, Benetton Group, Jimmy Jazz, Telarus, Luisaviaroma, the N Brown Group and BrewDog. For more information, visit antavo.com.
Eva Bacsi, Marketing Director