Partner Update - 5th December 2022
5th December 2022
Written by Tom Peace
The State of Brand Loyalty in the U.K.
9th June 2022
Three Reasons Paid-For Subscriptions Win
Emotion Promotion: The new rules of Loyalty for the post-COVID era
Top 5 Reasons why your Loyalty Program is struggling
The Loyalty People have been lucky enough to get a sneak peek at the latest State of Brand Loyalty report by Cheetah Digital, and it's a great read. Whilst this is UK focused it's a must read for anyone working in the loyalty industry as the insight is excellent and the UK is a genuine barometer for loyalty trends around the world.
This report shares exclusive data on the latest trends in consumer loyalty, the value exchanges that encourage repeat purchases and how to develop a loyalty program that goes beyond discounts.
U.K consumers are loyal by nature, but what they expect from the loyalty programs that turn them from one-off customers into loyal brand advocates is maturing. Points-for-prizes, although effective, is merely one of the many different tactics one can use to help engender lasting consumer loyalty.
Cheetah Digital also provide guidance on the reasons UK consumers have switched to a competitor, detailing the costs of getting loyalty wrong!
The report also provides some key insights into the reasons to engage in loyalty, such as:
• 61% of UK consumers are prepared to pay more from a preferred band
• 70% of consumers frequently buy from the same company, but are not loyal to that company
• 50% year-on-year increase in consumers who want personalised product recommendations based on their self-reported preferences in return for their brand loyalty
The report is available now so download and enjoy...