How Companies Can Elevate Their Loyalty Programs To Generate Revenue

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Brand loyalty has become more important than ever after the pandemic led to shoppers trying new brands and shifted many customer behaviors. Mastercard released a report on customer loyalty and engagement in the COVID era outlining four ways retail marketers can re-calibrate their loyalty programs.

And brands have been struggling to figure out how to gain customer loyalty in the current climate. In fact, 49% of companies say keeping customers loyal over long periods of time is their top loyalty program hurdle.At at transient time for shoppers, it’s critical for brands to be on point in their communication and delivery. And it’s critical to be asking questions, listening to the consumer, and be prepared to change.

Customers are clearly gravitating towards this integration of e-commerce and social media. They are enjoying combining the ease of online shopping with the community aspect that social networks provide. Experientially, social commerce is the closest thing we currently have to recreating the experience of shopping with friends in brick-and-mortar stores, but in the digital world. Social commerce is changing where, when, and how consumers shop today.

 

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