Consumers Want More Control over Loyalty Program Rewards

Consumers Want More Control over Loyalty Program Rewards

Giving customers more flexible rewards can drive loyalty by delivering greater personalization and value, EPAM found.

Dive Brief:

• Consumers worldwide want more control over how they earn and use loyalty program rewards, with 4 in 5 preferring to shop with brands that allow them to do so, according to research published by EPAM.
• An overwhelming 93% of consumers have used or would use features allowing them to customize how they earn rewards and/or choose their rewards, the survey of 10,000 consumers worldwide found.
• “Loyalty programs must offer a personalized experience that cater to customers’ unique expectations and engagement triggers,” Ward de Kruiff, global head of Web3 and Metaverse at EPAM, said in the report.

Dive Insights: 

A growing number of businesses are launching or relaunching loyalty programs with more personalization and customization to boost membership and engagement. 

Earning rewards, discounts or cashback on future purchases are the main reasons 70% of consumers join rewards programs. Free shipping and free returns also drive loyalty, according to the research.

But once they’re in the door, giving customers more control over how they earn and use rewards can further increase loyalty by delivering greater personalization and value, Rochelle Wang, principal experience consultant at EPAM, said in the report.

Read the rest of the article here. 

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