With the news of the economic recession and shrinking discretionary spending many retailers are looking for ways to increase customer loyalty. One of the best ways to compete in the current economic climate is with a strong, rewards based, customer loyalty program.
According to a recent study, participation in reward and loyalty programs has risen 19% since 2007 with many consumers reporting the economy having a positive influence on their participation in such programs.
The greatest growth came from the 19–25 age group, dubbed Millennials. This group showed an increase in program participation of 32%. Participation among this group is expected to increase even further with 27% expressing a desire to join new rewards programs in the future.
A huge opportunity exists with Millennials as these young consumers are building brand loyalty and are eager to participate in programs which reward repeat business.
StoneHouse Marketing Services has been providing companies with tools to cultivate customer loyalty for over a decade. We have seen booms and recessions and know that a strong customer loyalty effort plays an important role for any organization hoping to weather the storm. We can help you design a loyalty program that will reach your customers on a personal level and show them you truly appreciate their business.
Contact StoneHouse Marketing Services today to learn how your company can benefit from the increase in customer loyalty program participation. We have the tools to help increase customer loyalty and help you build your business.
StoneHouse Marketing Services
2039 Industrial Blvd.
405-360-5674
http://stonehousemarketing.com
http://bit.ly/SHMSfacebook
Source: “Despite recession, program participation jumps 20 percent,” July 2009, Colloquy. http://www.colloquy.com/article_view.asp?xd=6179
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