What are the Customer Loyalty Trends to Know for 2022? 8 Experts Weigh In

Loyalty management is primed to be a game-changer in customer experience.
 
SEPT 02, 2021. 7 MIN READ

If 2021 was the year of brand-switching, 2022 is the year when companies in every industry put in place the technologies and strategies they need to maintain long-term loyalty.

The shift to digital channels is making it easier than ever for customers to find new brands. In fact, 40% of consumers have switched brands and 84% intend to stick with the new brand, according to McKinsey. Now, it’s up to companies to rethink their loyalty strategy to keep customers engaged.

There’s business value to doing this in every industry. Beyond retail, travel, and hospitality, a Salesforce Customer Sentiment Survey of more than 12,000 consumers found that over half would be more likely to do business with a financial services company, subscription streaming service, or communications service provider if they offered a loyalty program. Customers want more from their healthcare providers, mobile carriers, and insurance companies, too.

However, loyalty programs themselves are not as impactful as they used to be. Customers take part in many of them (on average 4.3 loyalty programs in retail alone) and most are neither differentiated nor engaging enough. As a result, 54% of loyalty program memberships are inactive.

What does this mean for the future of loyalty? Eight experts share their predictions on what companies will do to take loyalty to the next level in 2022.

 

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Want Gen Z and Millennials to Commit to Your Wireless or Internet Service? Reassess Your Loyalty Program

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Building Loyalty at Scale in the New Age of Retail

 
 
 
 

Find Out What’s Next in Loyalty Management

Learn 2022’s most important insights, including:
  • How loyalty program data unlocks the door to personalization
  • Why gamification drives a competitive edge
  • How brand partnerships drive loyalty and get liability off your books
 
 

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