Loyalty Trends: Special Perks and Tier Systems – Global Loyalty Trends Report 2022
Catch up on key loyalty insights through our “GLTR 2022 Mini-Series”, where we break down some of the core topics discussed in our full report and emphasize some of the more intricate details.
In the eighth instalment of our series, we are breaking down the most notable loyalty trends from the survey and market research conducted.
More specifically how the integration of tier systems and special perks can positively impact loyalty programs in various ways, including member engagement, spending, and earning rates.
The interest in unique perks and tiers is clearly reflected by the data, which indicates that 50% of loyalty executives are planning to invest in tiered/experience-based rewards for 2022. Various brands utilize these program mechanics to boost engagement and push member acquisition by offering more value through the same assets. With 47% of brands incorporating tier systems in their program, it begs the question:
What do brands exactly gain from tier systems and how effective are they?
Tiered loyalty programs can be beneficial for a variety of reasons, besides increasing customer satisfaction and sustained engagement. They also incentivize higher member earning rates, as members need to obtain more loyalty points to reach the next tier and unlock extended value.
Alternatively, many programs utilize “Special Perks”. 33% of loyalty programs integrated special perks, such as ‘Surprise Perks’ or ‘Membership Perks’, with 22% experiencing higher customer spending as a result of this implementation.
Higher member earn rate observed by brands integrating tier systems
Key Takeaways (TL:DR)
- Perks and tiers help brands and their programs “recognize” loyal customers and their value, establishing a stronger rapport.
- Loyalty programs with higher member earn rates, 2.5x more, have a tendency to integrate tier systems.
- Additionally, brands utilizing special perks saw a 22% higher customer spending rate as a result of this implementation.
There are more than just a few ways to boost member engagement, growth, and customer spending by 2.5x (GLTR 2022). Schedule a call with us to explore all the potential avenues: 30-Minute Call – Gioele Giancola.
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