Loyalty programmes have a long and rich history dating back many years and across multiple industries. While there's no one way to define loyalty, one point is true for any brand, it means repeat business, which helps keep companies profitable. In fact, according to a recent survey, 46% of consumers state that loyalty programmes hold far more value than they did in the past . With customers now having more options than ever—it makes sense for companies of all sizes to find ways to build strong relationships with customers and keep them coming back for more.
Loyalty services providers address the ongoing changing environment by designing initiatives and analysing customer data to generate actionable insights that ultimately improve customer engagement and overall loyalty. Investment in this area continues to remain crucial as brands strive to increase their consumer base in light of shifting demands and needs, rising advertising costs, and global economic uncertainty.
Collinson was recently included in a new Forrester report, The Loyalty Services Providers Landscape, Q3 2023, that showcases the value businesses can expect from loyalty service providers. B2C marketers can use this report to understand the value they can expect from a loyalty services provider and to explore potential partners. Loyalty services providers support the design and development of loyalty strategies to ensure repeat business.
Access the report here.