This week's issue of the Competitive Intelligence Update explores how Canadians continue to love rewards and loyalty programs and how inflation has seen many turning to these programs to try and save money. Now while Canadians have joined a growing number of loyalty programs, usage lags memberships.
A recent study by KPMG, titled “Unconditional love: How to make customers faithful with loyalty,” underscores the need for loyalty programs to employ an omni-channel strategy and unified customer journey, synchronizing data seamlessly across all touchpoints to create a consistent journey.
A study by LoyalT points out that consumers expect the programs to be generous. When Canadian program members were asked which benefits or rewards they prefer, points on each purchase and free products topped the list.
The LoyalT report also lists key recommendations to improve programs and usage.
This week’s issue also looks at new partnerships aimed at helping newcomers; new rewards partnerships; and BMO’s strategic investment in an innovative content provider.
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