5 May 2021
Consumers are looking for a significant value exchange when they choose to be loyal to a brand, what they are rewarded with after a purchase and what the brand can continue to offer them, is significant in the decision-making process.
Recently we ran the 10th roundtable of the Meet-Her She Knows Payments Project!
We discussed whether convenience is the new currency of loyalty and the key takeaways are:
1. The pandemic has shifted consumer experience and mindset towards digital & contactless and the consumer has learned to value convenience.
2. The best reward is immediate and meaningful; additionally consumers want a personal and tailored experience that acknowledges their habits and preferences.
3. Technology allows brands to provide a comprehensive digital experience harnessing data and customers will reward a brand with loyalty if the data is then used in the right way.
Speaking on the future of rewards and loyalty; Jill Goldworn says: “If a brand doesn’t continually modify and enhance benefits, people will stop using it…Brands need to keep evolving and augmenting the program.”