Maritz Loyalty Marketing Rebrands as Bond Brand Loyalty to Lead Evolution of Marketing Industry and Launch Complete Brand Loyalty Agency
Maritz Loyalty Marketing today announced it has rebranded as Bond Brand Loyalty. The rebranding reflects the continued growth of the agency as a leader in customer-centric marketing, with a core in loyalty. Bond's new positioning combines traditional loyalty marketing services with a best-in-class customer experience, comprehensive brand engagement and a proprietary digital backbone. The agency's focus is to help clients achieve more sustainable and profitable brand performances by creating richer and more meaningful customer-brand relationships.
The 400-person brand loyalty agency works with beloved, top-tier brands that include Ford, Under Armour and Johnson & Johnson. The move signifies a shift in the industry to put consumer loyalty at the center of all marketing decisions — leading the evolution of a ‘do-this, get-that' model toward a fully strategic and comprehensive approach to loyalty marketing.
“Bond Brand Loyalty truly reflects our philosophy and purpose to make the world a more loyal place,” said Bond Brand Loyalty President Bob Macdonald. “We pull together many forms of marketing, helping brands increase and maintain the brand loyalty of their best customers and the people most valuable to them.”
With the introduction of Bond Brand Loyalty, Macdonald says the company is a new category of agency with a single focus. "We see that a dollar spent on brand loyalty goes further than a dollar spent on acquisition,” said Macdonald. “Every marketing service we offer keeps that notion paramount—guiding marketers to better ROI. That's why, to us, all marketing is loyalty.”
The agency's position is further validated by a range of authoritative industry sources that include Bain & Company, which states it's six to seven times more expensive to acquire a new customer than it is to retain an existing one. New findings from Bond's Loyalty Report further support this position with 71 percent of respondents saying loyalty programs are an integral part of their brand relationships, and two-thirds of consumers modifying when and where they shop in order to optimize their participation in a loyalty program.
Bond Brand Loyalty takes a holistic approach to building brand loyalty; it is optimally designed and delivered via programs that consider every aspect of a consumer's interaction with a brand, including both digital and person-to-person experiences.
"Every interaction — every message and experience — must address the consumer's need for both a rational and an emotional connection to the brand," said Sean Claessen, Bond Brand Loyalty's Vice President of Creative and Strategy. “All marketing ultimately rolls up to loyalty. Every exchange between a brand and a consumer either serves to build that loyalty, or to erode it."
2014 Loyalty Report Includes Surprising Findings in Consumer Interaction, Mobile and Millennials
In conjunction with its name change announcement, Bond Brand Loyalty today also announced the findings of its highly anticipated annual Loyalty Report. The 2014 Report engaged more than 6,000 people to uncover insights on brands and loyalty initiatives. The study included industry verticals such as retail, CPG, banking, travel and hospitality. The primary findings of the 2014 Report underscore Bond Brand Loyalty's assertion of the shift in the marketplace with regards to brand-aligned programs, and the increasing importance and relevance of non-monetary rewards.
“For customers who deem the loyalty program is part of their relationship with the brand, non-monetary benefits become almost twice as important to them the longer they're with the program,” said Scott Robinson, Senior Director, Loyalty Design and Solutions. “With less dependency on monetary means of reward, it becomes even less expensive to hold on to a customer — and can be done in a differentiated way that's harder for competitors to mimic,” said Robinson.
Robinson says this year's Loyalty Report highlights how consumer motivations are changing, and that Bond Brand Loyalty is leading the way toward addressing their needs and defining the next generation of brand loyalty programming.
“Consumers are now making a shift to view loyalty as a relationship with a brand and not just a way to get a return,” said Robinson.
Additional key standouts from this year's Loyalty Report are below. The full results can be found at www.bondbrandloyalty.com.
- Top-Rated Consumer Programs in terms of Satisfaction: Amazon Prime, Target REDcard and Cabela's Club Rewards are the three highest-rated retail programs, at 91 percent, 91 percent and 90 percent respectively
- Aligned with the Brand: Just over 50 percent of programs are aligned with the brand. Even more interesting is that brand alignment is most absent in retail, telecommunications and entertainment categories
- Loyalty Activity: Survey respondents are enrolled in 10.9 loyalty programs, yet are active in only 7.8; 80 percent of respondents said, “programs are worth the effort of participating”; 71 percent claim that programs are part of their relationship with the company and almost one in three customers say he/she wouldn't be loyal to a brand if it weren't for its loyalty program
- Consumer Interaction: 90 percent of respondents want to receive communications from the program in which they are enrolled, yet only 46 percent of them deem these communications relevant
- Mobile Marketing: 72 percent of respondents want to engage with brands through a smartphone or tablet, yet still today many brands are behind with mobile versions of their programs
- Millennials: The percent of respondents who tend to modify when and where they buy in order to maximize the benefits they receive from loyalty programs is highest among millennials (68 percent), in comparison to other age cohorts
- More Love: The percent of consumers who love the brand is higher than the percent who love the program in several categories, especially CPG at 44 percent vs. 33 percent
ABOUT BOND BRAND LOYALTY
Bond Brand Loyalty, formerly Maritz Loyalty Marketing, has been practicing brand loyalty for over 100 years for the world's most beloved brands. We believe that the world can be a more loyal place – a world more rewarding for customers, richer and more resilient for brands, and extremely profitable for the underlying businesses those brands represent. Named by Forrester as a leader in loyalty and number one in strategy, we build measurable, authentic and long-lasting relationships between our clients' brands and their customers through a complete combination of services, including loyalty design, customer experience solutions, market research, insights and analytics, live events, experiential marketing and powerful loyalty technology platforms centered around a signature human science approach to brand loyalty. Bond Brand Loyalty is a Maritz Company. For more information, please visit www.bondbrandloyalty.com.
Brooke Vane, 312-729-3639
Richard Lane, 905-696-5319
Bond Brand Loyalty