Evolving customer behavior in recent years has highlighted the need for a futuristic approach while building a loyalty program. Changing expectations and customer experiences are compelling global brands to transform into future-ready, data-driven, and agile solutions.
MarketsandMarkets predicts – the global loyalty management industry will be valued at $18.2 billion by 2026, which was $8.2 billion in 2021. This clearly reflects that loyalty programs are going to evolve in the coming years, and brands are looking for the perfect blend of loyalty programs moving forward. Today, customers are empowered with technology, information, and accessibility. To match their expectations, what matters is how we approach loyalty programs. Loyalty programs work best when the data, technology, and strategy work in tandem.
In this infographic, we elaborate on the importance of the 3 transformation essentials- deep data analytics, a robust technology platform, and a strategic loyalty approach.