What Do SMBs Want in a Loyalty Program?

How many SMBs are members of loyalty or rewards programs? What kinds of programs do they join? And what benefits do they want? To find out, we recently surveyed  500 U.S. SMB principals. While it may seem that every SMB would be in at least one rewards program – for example from their credit card company, an airline, a hotel chain, or an office supply company – many aren't. In fact, only about one in four very small businesses (VSBs, with fewer than 20 employees) and just over half of small businesses (SBs, with 20 to 99 employees) and midsize businesses (MBs, with 100-500 employees), report that they belong to any rewards or loyalty program.

SMB Loyalty Program Participation

Loyalty programs from financial services providers are the most popular for every size group, followed by travel/hospitality and office supplies.

SMB Loyalty Program Participation, by Sponsor Type

Given recent inflation, it’s not surprising that SMBs primarily want cost savings in a loyalty program. However, MBs equally want high reward value. For VSBs and SBs, cash-back offers are second, followed by high reward value. For MBs, easy rewards redemption is third.

Loyalty Program Enrollment Motivators

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