Key findings reveal opportunities for companies to deepen customer relationships by strengthening personalized offerings
MINNEAPOLIS, Nov. 5, 2019 /PRNewswire/ -- Aimia Loyalty Solutions, a globally recognized leader in loyalty, released its Global Emotional Loyalty Report© revealing what drives consumers to be loyal to brands and loyalty programs internationally. Aimia's Loyalty Solutions experts provide a snapshot of the current loyalty landscape across 6 verticals (airline, hotel, retail, CPG, financial services and telecommunications) and five regions (US, UK, Australia, Dubai and Asia-Pac) highlighting the lack of distinction among programs by regions and by verticals.
This in-depth research report also reveals:
- Key drivers of rational and emotional loyalty by region and vertical to determine what consumers say they want from loyalty programs compared to what they actually want;
- How CMOs plan to allocate their budgets and efforts going forward, to determine if CMO priorities align with the emotional needs of consumers.
Across the regions and verticals analyzed in the report, Aimia experts have concluded brands have an opportunity to ramp up their personalization efforts. With the amount of attributable data collected through loyalty programs, omni-channel personalization is one way of demonstrating your interconnection with consumers. Combined with machine learning tools that enable Next Best Experiences and targeted offers, consumers should be able to tip and turn through their own unique loyalty journey.
From Aimia's CMO survey, 26% of CMOs are spending 50% or more of their budgets on acquisition, which speaks more to a churn problem than an acquisition problem. With the high cost of acquiring new consumers, more care needs to be taken to onboard them into the program properly.
"Not only does this study unlock insights into global emotional loyalty from a consumer's perspective, but it also speaks to a broader need to be truly customer-centric in your business strategy," said Cindy Faust, Chief Commercial Officer. "As we know, consumers are highly empowered and inundated with messaging constantly, yet they've become accustomed to brands offering nearly identical programs with little-to-no personalization or understanding of what matters to them. Looking at what appeals to consumers emotionally and ways to make their lives easier can fast-track your path to their hearts and to growing your brand advocates. Understanding their journey and leveraging the data and tools that enable 1:1 connections, such as our SmartJourney® methodology, will help you make business personal."
About Aimia Loyalty Solutions
At Aimia, we make business personal. As a customer-centric organization, we help brands identify and target key customer segments to deliver personalized brand experiences. Our SmartJourney® methodology takes a holistic approach where each brand interaction is designed to create a meaningful moment that drives advocacy and long-term customer growth. Through our people, proprietary methodologies and leading technology, we deliver personalized experiences with predictive results for top global brands.