Loyalty360 releases new research report that includes insights on how marketers are defining, planning for, and managing next generation customer loyalty strategies.

Loyalty360 has released its Next Generation Customer Loyalty: 2024 Loyalty360 Brand Marketer Research, including insights from brand marketers who run leading customer loyalty programs, on how their organizations are defining, planning for, and managing next generation customer loyalty strategies.

In October 2023, Loyalty360 led qualitative discussions with Brand Members and surveyed over 90 brand marketers to gain deeper insights into their perceptions of next generation customer loyalty, the opportunities marketers are embracing, and the potential challenges hindering their progress. The results highlighted the importance of next generation customer loyalty and shed light on the obstacles marketers must overcome to improve and enhance their customer loyalty efforts.

Key findings and takeaways from the report include:

• Emerging and innovative technologies such as artificial intelligence (AI), as well as solutions for customer service/support, chatbots/virtual assistants, gamification, and augmented/virtual reality, are top of mind for marketers when it comes to next generation loyalty efforts.
• Personalization opportunities that can be delivered at scale and in a measurable manner are significant enhancements brands are looking to add to their loyalty strategies.
• Most brands believe there is a need to cultivate a better understanding of their customer loyalty efforts internally and externally.
• The primary obstacles for marketers in crafting a next generation customer loyalty strategy include challenges with resource allocation, organizational commitment, and technology. Meanwhile, many face difficulties due to the absence of a consistent definition of what precisely constitutes next generation customer loyalty.

"Our most recent research on next generation customer loyalty was driven by the eagerness of Loyalty360 Brand Members to gain a deeper understanding of the trends, technologies, and strategies poised to deliver significant value to their customer loyalty programs," stated Mark Johnson, CEO of Loyalty360. "In this era of rapid change, pioneering the evolution of loyalty programs and customer experience strategies that align with the expectations of consumers is not merely an option but a strategic imperative for marketers."

"Brands acknowledge that customer loyalty has transcended mere points and rewards; however, formulating a strategy for the next evolution of loyalty programs can be daunting," explained Carly Stemmer Ivory, Vice President and Research Analyst at Loyalty360. "Our latest report aims to provide valuable insights into how marketers can adeptly navigate this complex and ever-changing industry."