Pursuit of Loyalty 2023 (Part 1)

Summary

Customer loyalty programmes have been a marketing staple for decades, built around points, tiers and rewards designed to keep shoppers coming back. But as customer expectations shift and competition for attention intensifies, the question of whether traditional loyalty mechanics still move the needle has become harder to ignore for brands across retail, travel, hospitality and financial services.

Industry leaders weigh in on whether point-based systems still resonate with today's consumers or whether newer approaches, built around personalisation, emotional connection and value beyond transactions, are proving more effective at building lasting loyalty. What makes a loyalty programme feel relevant versus what makes it feel like an obligation comes under scrutiny, along with how brands can rethink their loyalty strategy to match changing consumer behaviour rather than simply digitising legacy reward structures.

Drawing on perspectives from both a research and marketing vantage point, practical starting points emerge for organisations looking to redesign their approach to customer retention, touching on segmentation, engagement triggers and the role of brand experience in sustaining loyalty over the long term.

• Why traditional points-and-rewards models are losing relevance
• Alternative approaches built around personalisation and emotional connection
• Practical considerations for redesigning a loyalty strategy

Are loyalty programmes still the best way to earn a customer's repeat business, or has that job moved elsewhere?