The Fourth Industrial Revolution has transformed customer expectations, putting pressure on brands to evolve their offerings.
Loyalty programmes are by no means exempt. Clients are seeking fairness, flexibility and an offering that has lasting benefits, as well as aspects of instant gratification. They’re looking for a solution that deepens gamification and transcends it.
Francois Uys, the head of digital, marketing and communications at Sanlam Reality, outlines some of the top trends for the loyalty space in 2019 and 2020.
1. The “democratisation of loyalty”. Customers increasingly desire authenticity and recognition of their individual needs regardless of their assets. Younger customers, in particular, would like to be rewarded in equal measures. This means some loyalty programmes are moving away from the traditional “tier” systems to provide all members with equal access to the same rewards opportunities. The net result? People appreciate the fairness and feel more valued across the board.
2. Turn a “bad behaviour” on its head. Loyalty programmes can play a pivotal role in changing financial behaviour through persistent micro-empowerment.