What drives buying? Turns out it could have a lot more to do with rewards than most people know.
In fact, slightly above 45 percent of consumers say the opportunity to earn rewards is a primary driver for purchasing from a brand.
That’s the lowdown from a new study by Maritz Motivation Solutions, which surveyed 2,000 consumers on their loyalty to and engagement with brands.
“The study was conducted via online survey; participants needed to be a member of a loyalty or rewards program,” according to a provided statement. “Completed late last year, study results will be released in stages in 2016.”
Fact is, a majority of consumers like their “ability to earn points and rewards, as well as good promotions and low prices.” There were lower numbers of consumers who said they purchased based on great experiences and service.
“When evaluating your brand, consumers also are evaluating your loyalty program,” said Barry Kirk, VP Customer Loyalty Strategy for Maritz Motivation Solutions. “Marketers shouldn’t be surprised by this, as U.S. consumers have been trained for decades to expect brands to pay them for their repeat business.”
In other findings, 43 percent of consumers join loyalty programs because of the desire to earn rewards.
“Only 17 percent of those in loyalty programs say they joined out of love for the brand’s products and just 5 percent because of a shared identity with brand values,” the provided statement reads. “Six out of ten customers believe that companies only offer rewards programs to get them to buy more, rather than in an effort to build a relationship with them.”
The study underscores the value of points and rewards programs, but also points the way to potential for brands to forge better relationships with consumers, according to Kirk.
“The data reveals a major opportunity for companies to tap into the relationship aspect of loyalty inside their programs,” Kirk said. “By creating engaging experiences and emotional connections, you can forge deeper relationships with your customers.”