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According to Gartner data, 1 in 3 companies without a loyalty program today will establish one by 2027.
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The companies’ loyalty program budget increased in the last planning cycle.
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25 out of every 100 Mexicans consider the terms and conditions of loyalty programs impossible to decipher, according to a Forbes survey.
Customer loyalty can be temporary for many brands, especially in the face of high competition. That is why having loyal customers is extremely importantcustomer retention is not only cheaper than customer acquisition, but regular customers buy more regularly, because unlike new customers, they already trust the brand and its products.
Many brands employ numerous strategies to increase customer loyalty, such as rewards programs.
He cashback or “money back” are loyalty techniques through which a brand returns a percentage of their purchase to the customer. Although this type of technique is normally used by banking entities. These programs seek to create a lasting and beneficial relationship between brand-customer, encouraging repeat purchases and recommendations to other customers.
In Mexico, there is still a very large gap between loyalty programs and consumers, as many are unclear on how their rewards work and how to get the benefits. Recently the Mexican startup Jüsto did an exercise in ChatGPT on the perception of loyalty programs, discovering that many consumers consider them confusing, and that they are restrictive and limiting on when and how they can be used.
That is why achieving loyal customers is essential for any brand that seeks to grow, and consequently increase its sales. Customers should always feel valued and be clear that your needs will always be met quickly and effectively. Another key to building loyalty is that a brand must always guarantee quality, in addition to always offering rewards and discounts, especially when there are regular purchases. An important role is also played by social networks, which help to establish a brand-client connection.
A very clear example is Starbucks with his successful loyalty strategy”Starbucks Rewards“, which won the hearts of its customers. This loyalty program was launched in 2009 and currently encompasses almost 70 percent of its sales through this channel. In a week it can achieve more than 8 million transactions, while its Gold Level grew to 12 million users in the United States between 2015 and 2016.
Among the countries with the greatest presence of the brand are Canada, Japan, South Korea and China, the latter with more than 6 thousand establishments, becoming the second country with the most Starbucks in the world.
During the fourth quarter of 2022 (October, November and December) Starbucks billed approximately 8.5 billion dollars, according to Statista data. While its annual income amounted to 32.250 million dollars. It was also in 2022 when it added a total of 35,700 coffee shops around the world. Starbucks operates in more than 80 countries, although The United States remains its main market.
