I began by mapping out all of the key people that I needed to speak to understand reward and loyalty at Virgin Money.
We conducted pop up interviews with our customers at stores and lounges to begin to understand attitudes towards reward and loyalty.
We found that ‘Loyalty’ to most customers meant interacting with a brand of a regular basis and putting it above brands.
Over half of the customers spoke to didn’t initially describe themselves as being ‘brand loyal’. They spoke about brands they liked and long relationship with but also spoke of the fact they’d happily go elsewhere for a better deal.
A few of the older customers felt the days of loyalty were gone, it’s easier now to switch and there’s less motivation to stay loyal.