Open Loyalty have released their latest Loyalty Trends Report which covers existing and upcoming trends in customer loyalty marketing. Each year, Open Loyalty prepare their report to inspire marketers and loyalty consultants with industry insights and predictions to support the creation of better marketing strategies for winning customer loyalty.
The research is based on the insights from 112 interviews with high-profile loyalty consultants and professionals from various locations and industries.
The 2021/22 Loyalty Trends Report attempts to answer some pertinent questions:
- What goals and challenges do loyalty professionals see?
- What are the most significant trends in loyalty marketing in the long and short term?
- What are the most common areas for investments?
- What are the predictions for the future of loyalty programs?
According to responders, the industry trends which are predicted to have the biggest impact on loyalty marketing in the next 2-3 years include mobile payments, paid membership and subscription, predictive analytics, and gamification/game-based mechanics.
Philip Shelper (CEO, Loyalty & Reward Co) was interviewed for the report, and was quoted as saying, “As companies continue to be negatively impacted by Covid-19, the urgency to drive short-term revenue will increase. Many companies will ramp up their digital marketing efforts, hitting their loyalty program base with email after email to stimulate sales. This ‘marketing assault’ will irritate most members and reflect badly on the whole industry.”
He went on to say, “The convergence of payments and loyalty is the big story playing out globally. Klarna buying Stocard demonstrates the value fintechs see in loyalty member bases. These types of acquisitions will continue. Card-linking and merchant-funded rewards will expand and become mainstream via banks, airline and supermarket programs, utilities and other industries.”