Almost all (97%) American adults now participate in loyalty programs and expect significant rewards from the brands they buy, according to a study from daVinci Payments that identified the top brands in loyalty among many other key customer loyalty insights.
The daVinci Loyalty Study, highlighted the importance of loyalty rewards and experience in growing and sustaining loyal customers. During a time when marketers in many industries are unable to engage customers using tactics relied on before the outbreak of COVID-19, maintaining brand loyalty is crucial to hold on to a core customer base.
“The insights from this study identify the importance of loyalty programs and making enrollment, engagement and reward distribution mobile-first and easy to use. They also identify the importance of prioritizing reward choice and relevancy based on specific customer base, product usability and traits,” explained Rodney Mason, daVinci Payments’ Chief Revenue Officer.
The study revealed consumers’ favourite loyalty programs by brand and also identified the best loyalty programs by industry, along with the industries with the highest loyalty program participation rates and regional brands that are outperforming national brands despite their limited reach.
In total, 161 brands were identified as having a consumer favorite loyalty program. It is no surprise that the runaway favorite has enrolled 75% of all US adults. But many regional, smaller brands punched above their weight in recognition, in large part because they simply offer the kind of loyalty programs their customers cannot find from large national brands.
Among the favourite brands cited for their loyalty initiatives were 7-Eleven, AT&T, Alaska Airlines, Amazon, Ah Yes!, American Airlines, American Express, Auto Zone, Bath and Body Works, Best Buy, Coke, Costco, CVS, Discover Card, Fetch Rewards, Game Stop, Hilton, iBotta, Kellogg’s, Marriott, Pepsi, Rakuten, Starbuck’s, State Farm, Southwest Airlines, Speedway, Uber, Ulta Beauty and Walgreens.