The new mexican customer

Studies commissioned by ampersand and performed by MDI Group during 2008 and 2009 revealed the importance of understanding customers and building loyalty as a key strategy for retention. The study, titled “Evaluation, understanding and market segmentation of loyalty programs,” conducted in 2008, determined:

• 62% of the respondents have a loyalty program, and
• 77% considered that a loyalty program was “important” or “very important” when choosing a product or service.

 A deeper study made in 2009 revealed that, of the consumers who have a loyalty program membership:

• 90% used the loyalty program in the past 12 months
• 73% would “recommend” or “highly recommend” the loyalty program, and
• 28% increased their use of, or sought to only use, products or services that have a loyalty program.

In addition, in response to specific questions asking them to evaluate the programs they use, the 2009 study determined:

• 48% are attached to the brand, shown by a resistance to use or purchase competing products or services.
• 57% purchase or use the brand's products or services more frequently.
• 66% have recently redeemed points or received benefits from their loyalty program.
• 67% intend to purchase products or services of the company that has the loyalty program.

 With respect to the preferred brand use, the same study revealed that amongst the members of loyalty programs:

• 33% like to immediately redeem their points for goods or services.
• 49% prefer to wait and accumulate points over a longer term for larger rewards.
• 93% want to redeem points for benefits such as gifts, theater tickets and other prizes, rather than receive cash rewards or "cash back."

With these figures in mind, it is clear that consumers in Mexico prefer companies that focus on their customers. There are many examples in the news of companies that have introduced innovative promotions and value-added programs to attract and retain new customers.

A wide range of companies – including financial institutions, logistics and shipping companies, medical groups, engine manufacturers, hotel chains, insurance and real estate firms, retailers and budget airlines – represented a diverse but focused group of companies that introduced or strengthened their loyalty programs and demonstrated a renewed commitment to their customers and potential customers in 2009. Without a doubt, many of these companies strengthened their hold on their customers this year, even through the economic turmoil.