8 trends for loyalty programs in 2022
Trends in loyalty programs follow consumer trends, and in a changing customer behavior scenario due to the COVID-19 pandemic, companies must be aware of new consumer relationships and how these may impact their loyalty programs.
In addition, consumer loyalty has been influenced by new technologies that allow data integration and greater knowledge about customers, promoting insights that structure new brand experience initiatives.
Therefore, with a focus on building positive and long-term relationships with audiences in this changing world, Indico has identified 8 trends for loyalty programs in 2022.
1 - Purposeful programs
With an audience that is increasingly attentive and picky, companies have been mobilizing in order to develop purposeful actions. Thus, the focus of brands cannot be only on the product or service they offer.
It is necessary for brands to get involved in initiatives that go beyond profit, positioning themselves for causes that are relevant for new generations. ESG (environmental, social and governance), for example, is being adopted by many organizations.
So there is a great opportunity for companies to improve their performance and customer engagement with the brand by promoting this positioning.
2 - Phygital initiatives with integrated customer experience
Despite what many people think, phygital initiatives are not about transferring experiences from the physical to the digital environment: they reshape the customer journey through operational processes and databases to deliver a personalised and unique experience.
To make these initiatives work, all brand communication channels must be integrated, because an omnichannel relationship with the customer is key to the success of the loyalty program.
All these interactions across multiple channels can be interpreted by AI to generate strategies that further build customer loyalty.
3 - Valuing experiences and micro-interactions with the brand
To understand this trend, it is necessary to connect it with two important factors in the relationship between companies and customers: convenience and gamification.
Because of the pandemic, consumers needed to shop online. Therefore, brands had to be adapted to offer a convenient and personalized service to their audience, improving such aspects as availability and delivery.
In addition, new data-driven engagement mechanics, such as gamification, drive the desire to buy and generate greater interaction and emotional connection with the customer throughout the program.
4 - The quick wins that feed the sense of emergency
As a consequence of the pandemic, consumers feel even more stimulated by rewards. Therefore, quick wins are great drivers of emergency sentiment and can be used throughout your loyalty program.
However, remember that rewards should be relevant and tangible, as well as stimulating the customer's relationship with the brand and the purchase of your products and services. Freebies, discounts and exclusive offers are some of the rewards most desired by consumers .
5 - Points Monetization
Realizing the need to provide an experience with greater convenience and ease for the consumer, companies need to adapt bureaucratic and financial issues in their loyalty initiatives.
Therefore, the accumulated points can be transformed into monetized resources. The use of points for mobile payments and applications is one of the big trends for loyalty programs.
6 - Premium Loyalty Programmes and/or subscriptions
Initiatives of premium plans that promote exclusivity of products and services transform the relationship with the client, increasing the recurrence of purchase or service renewal.
According to research from the Loyalty Industry Data Study 2021, 44% of retailers with premium loyalty programs say that members buy every few days.
However, this strategy must be solid and consistent, as it is necessary to analyze data and conduct surveys to track members and enhance the unique experience being offered.
7 - Artificial Intelligence at the service of CX
By 2025, almost 95% of customer interactions will be conducted through AI. This trend is being adopted very quickly by organizations, which are already using chatbots and other technological resources to facilitate contact with the customer.
In addition to communication, artificial intelligence is able to answer specific questions from consumers and provide a highly flexible service, reducing waiting time, and offering products and services that are customized to the customer's profile.
Therefore, technologies will be able to build an effective purchase journey both for the public that will have their needs satisfied on time and for the company which will increase engagement and loyalty rates.
8 - Strategic partnerships
Establishing strategic partnerships with companies that share similar values to yours and that are valued by their consumers can be a customer relationship booster initiative for the brands involved.
To build this partnership, companies can share knowledge and data in order to increase the project's reach and engagement rates, as well as attract new customers.
This action promotes innovative ideas and is capable of generating great results for both companies, but it is necessary to know the partner organization well and clearly establish what the goals and expected results are.
Ebook: Loyalty of the Future
To learn more about these trends and access more in-depth information and data, download for free our ebook Loyalty of the Future. Reading it, you will get relevant insights to follow the best path towards the creation of a successful relationship with your client.
Here, we transform your Big Data into intelligence, driving your company to achieve better results with actions and strategies focused on the client. Our team of experts in technology and marketing is ready to convert your data into innovative solutions that enhance the user experience, generate loyalty and ensure real results for your business.
Contact us and discover the Indico way of revolutionizing the market.
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