The 2024 Customer Loyalty Study from gifting company Snappy determined the majority of consumers consider loyalty programs an important factor to weigh when engaging companies and brands.
Top reasons to chose a company, according to the Snappy study, are product quality, at 67%; price, at 64%; customer service, at 51%; and whether the brand/company offers a rewards or loyalty program, at 47%. Moreover, 70% of study participants characterized loyalty programs as a key to choosing a brand or company, while 72% reported they would join a customer loyalty program before making their first purchase. In addition, 76% of respondents said they would spend more money with companies when signed up for a loyalty program.
The study indicated the most important loyalty program features, as ranked by customer preference:
- Earning rewards points based on purchases and brand engagements that can be redeemed for incentives including discounts on future transactions and bonuses such as gifts or exclusive merchandise.
- Earning exclusive discounts or coupons that aren’t available to non-members.
- Access to exclusive membership perks, such as a dedicated customer service team, free shipping and personalized incentives.
In the study, 73% of respondents said they see the brand more favorably when they receive quality gifts or exclusive merchandise as part of a customer loyalty program. Also, 91% reporting they are interested in loyalty programs offering the option to select a gift for themselves as part of their reward incentives.
Rewards are particularly welcome on occasions include birthdays, cited by 90%; the holiday season, by 60%; and the anniversary of a first brand interaction, purchase or membership sign-up date, by 59%.
