Our client Mastercard partnered with Harvard Business Review Analytic Services to ask 400 executives globally about their approach to customer loyalty. The research showed that customer loyalty remains a top business priority for executives, but less than half believe their approach to loyalty is effective.
Additional findings include:
- 55% of participants have updated or refreshed their loyalty strategy within the past two years.
- Mobile capabilities are the primary technology investment (52%), and the majority of businesses surveyed consider digital and omni-channel access to be key initiatives for future loyalty program success.
- 31% of respondents let an external partner manage their loyalty platform, and 28% use an outside partner to handle loyalty-related marketing campaigns.