According to a survey of more than 1,000 consumers from ACI Worldwide, more than 40% of them have had a negative experience with their loyalty programs. Complaints run from getting rewards they didn't want (27%), getting rewards that were too small to take seriously (44%) or a lack of communication from their programs (85% said they hadn't heard anything from their programs since signing up).
Loyalty programs are a great marketing tool but if you're going to create one, make it good. If you create a program that doesn't deliver consumer value, not only are you not building loyalty but you're also wasting time that could be spent on something that could. You can read more about this study here.