Incentives are no longer the marketing department’s afterthought, they’re a boardroom conversation. As brand loyalty becomes harder to earn, C-suite leaders are rethinking the role of loyalty and promotions in their business’ growth strategy.
To explore how executives are approaching this shift, Talon.One collaborated with Harvard Business Review Analytic Services on new research to better understand how loyalty leaders are moving forward.
The report, Getting strategic about incentives: Building value through promotions and loyalty programs, is based on a global survey of more than 420 senior executives and other relevant roles across industries.
Some key findings:
- 77% of respondents say their customer loyalty programs are of top importance to their executive leadership team
- 71% say the same of promotions and discounts
- Yet only half (49%) say their current loyalty programs are very or extremely effective
Download the full report here.