Gaining and retaining customer loyalty is no easy feat. Customers are often "loyal" based more on convenience than emotion, which means given a better option their loyalties will change as quickly the weather on a Florida afternoon. Loyalty programs help bolster retention, but they're not a magic bullet for fostering attitudinal loyalty.

Earlier this week at Loyalty 360's Loyalty Expo 2012 several speakers shared research findings that reveal just how fickle consumers can be. They also shared challenges and opportunities in building and maintaining customer loyalty.

According to Forrester researcher Emily Murphy, on average, 35 percent of a company's customers are loyalty program members. Yet 63 percent of U.S. adults are interested or very interested in joining programs--provided that the programs offer discounts. "Discounts are king for both consumers and marketers," Murphy said. Consequently, the top challenge for companies that offer loyalty programs is differentiating their program from similar efforts in the marketplace, she said. Murphy recommends that businesses take the time to understand their customers' preferences. Doing so will help to better differentiate their loyalty program...