We are living in a new era of customer loyalty. Customers expect their relationships with companies to be based on a deep understanding of what they value, and in return they will be influential advocates and committed customers.
Our second study into global mass affluent consumers found that the top 10-15% income earners in 10 countries are becoming increasingly less loyal and their membership of loyalty programmes has dropped 20% since 2014.
Given that we found that 75% of loyalty programmes encourage positive spending behaviour, what can financial services companies do to stop this profitable group of customers from turning their backs on reward initiatives that no longer engage or resonate with them?
Opportunities for financial services companies in creating more engagement and loyalty.