In today's world, loyalty is more important than ever before. Consumers are overwhelmed with choices, and as a result, brands are competing fiercely to capture their share of the market. The loyalty landscape is rapidly evolving, and consumers now expect brands to be more relevant to their needs, making it more competitive than ever before.
By Nicholas Pinfold, Benthe Maertens-Gommers, Wouter Slotenmaker and Anne-Sophie van Galen
A new age for loyalty
To succeed in this environment, brands must differentiate themselves to capture the hearts, minds, and wallets of their consumers. Loyalty is not a new concept, and it has been around for centuries. However, as consumer expectations change, companies need to reconsider how they can differentiate themselves from their peers to drive engagement and retention with their customers.
Consumers want to be in control, and they want a mutually beneficial relationship with the brands they interact with. This relationship comes in many forms and ideally over time. When positioned and activated correctly, this can increase member engagement, loyalty, and ultimately improve revenue and profitability. Consumers feel inspired, engage with the brand in the channels they prefer, and receive offers, products, and promotions that are relevant and targeted. The frequency and relevance of communication also meets their expectations.
At Deloitte Digital, we understand the importance of loyalty, and we have conducted years of consumer research and market experience to create a proprietary model that maps the most important loyalty levers. Our maturity model evaluates companies quickly across a set of loyalty levers to determine their current offerings' pitfalls and biggest gaps to invest in for a more differentiated and competitive loyalty offering.
Stand out from the crowd
It's time for brands to differentiate themselves from their peers, and Deloitte Digital's loyalty maturity model can help them achieve this goal. Our model highlights the various ways loyalty is evolving, the key differentiators that can set a program apart, and how to create enterprise value. We have created an infographic that outlines these essential components of a successful loyalty program, and we encourage you to check it out above.
If you're interested in learning more about how to differentiate your loyalty program from your competitors, please get in touch with our expert team. We can help you create a loyalty program that not only meets but exceeds the expectations of your customers, driving engagement, retention, and profitability.
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Kasia Blicharz
Kasia is a partner in Advertising, Marketing and Commerce practice with focus on Consumer and Retail. She has 20 years experience in digital, data and marketing. She has worked with some of the leading FMCGs around embedding tech, making sense of data, instilling digital first culture and helping to create robust marketing organizations. Her passion is helping to translate and elevate human experiences into daily work of organizations. Her leading role in AM&C is helping clients to elevate their customer experiences through defining and building digital capabilities and way of working to execute on this. Typically this involves new digital and marketing strategies, technology (customer data, marketing automation, ecommerce tooling), content (brand strategy, UX/UI design, campaign content) and operating model components (governance set-up, make/buy/partner decisions, skill building and organization restructuring).
Nicholas Pinfold
Nicholas is a Digital Strategy Consultant within the Customer & Marketing practice in The Netherlands. He is an experienced consultant and has a deep understanding of omnichannel, loyalty and marketing. Nicholas has extensive experience within the retail and consumer products industry, helping clients on a range of topics such as channel strategy, market roll-out, customer experience and operating model. Nicholas is passionate about supporting clients such as Nike on customer-driven transformation initiatives specifically focused on driving growth from within the organisation. Nicholas has a passion for sport, innovation, and all things digital. Originally from New Zealand, Nicholas now lives in Amsterdam.