How to build an effective loyalty program ? (Case of banks)
(A2024-118401)

AUTHORS

Latifa Ayoubi, Com'sup, Edvantis Group

ABSTRACT

Loyalty programs have become among the main tools for Customer Relationship Management. Academic research has long debated their effectiveness. Whereas, one of the main issues in relationship marketing is to identify areas for improvement in order to be able to integrate them into a Customer Relationship Strategy. The aim of this research is to highlight the keys for building an effective loyalty program. To this end, two studies were conducted. The first one is an exploratory qualitative study with 21 customers, and the second one was an empirical study carried out with a sample of customers who are members of a banking loyalty program in France (153 in the exploratory phase and 284 in the confirmatory phase), via an access panel. These studies demonstrate, on the one hand, the role of levers : the reward structure, social benefits, personalization of the relationship and preferential treatment in the effectiveness of these programs. On the other hand, they show the effect of these levers on the new concept of loyalty to the loyalty program, on brand loyalty and on its other consequences.