Amidst a backdrop of economic downturn, the phasing out of cookies, and the emergence of walled garden data, the imperative for robust loyalty programs has reached an unprecedented high.
Recognising this, the 2nd Edition of the industry-acclaimed book Loyalty Programs: The Complete Guide emerges as a beacon for businesses aiming to implement loyalty programs that engage consumers and deliver tangible results. Recent research indicates that loyal customers deliver a 306% higher lifetime value than new customers with 63% of consumers modifying their spending habits to maximise loyalty program benefits.
Loyalty Programs: The Complete Guide, 2nd Edition stands as the definitive anthology on the subject. It seamlessly weaves academic insights, loyalty psychology, seasoned industry knowledge, and an impressive array of over 170 global case studies, ensuring a holistic understanding of loyalty dynamics.
Aimed at loyalty, marketing, and business professionals, the book serves as an exhaustive reference, delving deep into the nuances of loyalty—from its historical evolution and psychological underpinnings to the intricacies of design, technology, data management, marketing strategies, and beyond.
What's New in the 2nd Edition?
- Introduction of Loyalty & Reward Co’s Essential Eight™: A groundbreaking set of principles for loyalty program design and optimisation, unveiled for the first time beyond clients of Loyalty & Reward Co.
- An enriched collection of over 170 refreshed and new case studies, reinforcing the book's foundational theories.
- A thought-provoking foreword by Professor Thomas O’Toole of the esteemed Kellogg School of Management, Northwestern University.
Author Philip Shelper, CEO of the globally-renowned loyalty consulting agency, Loyalty & Reward Co utilises his career spanning roles at Qantas Frequent Flyer and Vodafone, and loyalty consulting projects with over 100 brands globally, to deliver both profound and practical insights.
Philip remarks, "With this edition, we're unveiling our proprietary Essential Eight™ principles—a testament to our commitment to the loyalty industry. The recent global upheaval underscored the vulnerability of businesses lacking a robust marketing database. Those with foresight, who invested in loyalty programs, have reaped the dividends. This 2nd edition is an indispensable resource for any enterprise contemplating the launch or revamp of a loyalty initiative."
For businesses aiming to navigate the complex waters of customer loyalty, Loyalty Programs: The Complete Guide, 2nd Edition is more than a book—it's a compass.
Praise from global experts
“Loyalty Programs: The Complete Guide is an extremely valuable resource for loyalty and marketing professionals. In fact, I found it so helpful that Eagle Eye now buys a copy for every new member of our sales team to give them a comprehensive understanding of the global loyalty landscape. I particularly enjoy the case studies which really bring the concepts to life. Highly recommended.” - Tim Mason, CEO of Eagle Eye and former Tesco CMO and founder of Clubcard
“An outstanding guide, not only to the mechanics and economics of loyalty programs, but to the behavioural thinking behind loyalty strategy. Having been involved in the loyalty industry for many years, I found it a fascinating source of historical context, a great overview of the industry today, and a practical roadmap to the key drivers of customer value across a range of loyalty program types. A must-have for anyone in the industry.” - Neil Thompson, former CEO, Velocity Frequent Flyer
“Loyalty Programs: The Complete Guide is one of the most thorough resources for loyalty and loyalty programs. It’s practical, pragmatic and comprehensively covers all aspects of loyalty from history to psychology through to program design and operating models including commercials. There is something for every loyalty professional in this book – from emerging loyalty marketers through to senior stakeholders and decision makers. We work with Phil regularly – we value his knowledge and expertise. This book is a well-used resource in our organization.” - Lizzy Ryley, CEO, Loyalty NZ
Global loyalty statistics
Global research indicates that loyal customers = profitable customers:
- Repeat customers spend an average of 67% more than new customers[1]
- 70% of consumers are more likely to recommend a brand with a good loyalty program[2]
- Increasing customer retention rates by just 5% can increase profits by 25% to 95%[3]
- Loyal customers have a 306% higher lifetime value than new customers[4]
- Loyal customers are more than seven times as likely to forgive a company for a mistake[5]
- 63% of consumers will modify their spending habits to maximise loyalty program benefits[6]
- Acquiring a new customer can be from five to twenty five times more expensive than retaining an existing customer[7]
How to buy the book
Loyalty Programs: The Complete Guide, 2nd Edition can be purchased in paperback or e-book form from the bookstores below:
- e-book (available globally)
- Paperback
About Loyalty & Reward Co
Loyalty & Reward Co is a leading loyalty consulting firm that designs the world’s best loyalty programs for the world’s best brands. Over the past decade our dedicated team of loyalty experts have delivered real success stories for over 100 companies globally, across every major industry.
Our data-driven and customer-focused loyalty programs generate incremental acquisition, spend, retention and advocacy, adding meaningful value to clients and their members.
Our obsession for loyalty is what defines us. At Loyalty & Reward Co, we constantly engage with and study loyalty programs, loyalty psychology, technology and industry trends. We continually challenge ourselves to deliver and demonstrate value in everything we do.
We help our clients succeed by providing end-to-end services and expert insights across three key areas: Design, Implementation and Operation.
For media enquiries, including booking Philip Shelper for an interview or to request for a copy of Loyalty Programs: The Complete Guide Edition 2, please contact:
Stacey Lyons - Loyalty Director
Loyalty & Reward Co
Level 1, 56 Clarence St,
Sydney, NSW, 2000
+61 415 224 842
stacey.lyons@loyaltyrewardco.com
www.loyaltyrewardco.com
[1]https://www.business.com/articles/returning-customers-spend-67-more-than-new-customers-keep-your-customers-coming-back-with-a-recurring-revenue-sales-model/
[2]https://cdn2.hubspot.net/hubfs/352767/Loyalty%20Report%202018%20Files/Bond_TheLoyaltyReport%202018%20US_Exec%20Summary.pdf
[3]https://media.bain.com/Images/BB_Prescription_cutting_costs.pdf
[4]https://yougov.co.uk/topics/resources/articles-reports/2020/08/07/emotionally-connected-consumers-have-306-higher-li
[5]https://www.cxpa.org/blogs/bruce-temkin/2018/08/21/the-roi-of-customer-experience-new-research
[6]https://cdn2.hubspot.net/hubfs/352767/Loyalty%20Report%202018%20Files/Bond_TheLoyaltyReport%202018%20US_Exec%20Summary.pdf
[7]https://hbr.org/2014/10/the-value-of-keeping-the-right-customers
Key Facts:
What's New in the 2nd Edition?
- Introduction of Loyalty & Reward Co’s Essential Eight™: A groundbreaking set of principles for loyalty program design and optimisation, unveiled for the first time beyond clients of Loyalty & Reward Co.
- An enriched collection of over 170 refreshed and new case studies, reinforcing the book's foundational theories.
- A thought-provoking foreword by Professor Thomas O’Toole of the esteemed Kellogg School of Management, Northwestern University.
About us:
About Loyalty & Reward Co
Loyalty & Reward Co is a leading loyalty consulting firm that designs the world’s best loyalty programs for the world’s best brands. Over the past decade our dedicated team of loyalty experts have delivered real success stories for over 100 companies globally, across every major industry.
Our data-driven and customer-focused loyalty programs generate incremental acquisition, spend, retention and advocacy, adding meaningful value to clients and their members.
Our obsession for loyalty is what defines us. At Loyalty & Reward Co, we constantly engage with and study loyalty programs, loyalty psychology, technology and industry trends. We continually challenge ourselves to deliver and demonstrate value in everything we do.
We help our clients succeed by providing end-to-end services and expert insights across three key areas: Design, Implementation and Operation.
Contact details:
Stacey Lyons - Loyalty Director
Loyalty & Reward Co
Level 1, 56 Clarence St,
Sydney, NSW, 2000
+61 415 224 842
stacey.lyons@loyaltyrewardco.com
www.loyaltyrewardco.com
