Feb. 29, 2012, Cincinnati, OH — Loyalty 360 - The Loyalty Marketer's Association has released the results of its latest survey, exploring the issues that its members believe most affect customer loyalty and retention.
The loyalty marketing think tank found that the following issues are perceived as having the most impact on customer loyalty and retention:
"Given the volumes of consumer generated content and the greater emphasis customers are placing on reviews and recommendations inherent in this feedback, it's not surprising that social media and customer analytics top this list," said Mark Johnson, CEO of Loyalty 360. "This data explosion is an enormous opportunity. But companies need to find the proverbial needle in the haystack - a.k.a. the information in the data."
- social media (27.9 per cent)
- customer analytics (25.4 per cent)
- rewards programs (24.6 per cent)
- employee engagement (15.6 per cent)
- mobile strategies (6.6 per cent)
Johnson also points out that while marketers believe that social media is important, most don't know how worthwhile it is. As they become more sophisticated and skilled at navigating the social media channel, marketers will be more demanding of tools that track and improve ROI. As the results indicate, rewards programs continue to play a vital role in a brand's customer retention strategy. The most effective programs - those that drive sustainable behaviour change and long-term loyalty - and are those that go beyond points, excite and delight members and offer meaningful rewards.