This study aims to investigate, from the perspective of the Social Identity Theory, the influence of a club s sporting performance on the perceptions – by the members of the membership program – of the financial and social benefits (sense of belonging and status) offered by the program. In addition, how the attitude of the program s members and their inclination to continue being part of it are affected by the results. To test the formulated hypotheses, a longitudinal panel study was conducted in a sample of 371 members of a popular soccer club in the city of Rio de Janeiro, who answered the same questionnaire at four different times. The results suggest that even individuals who have a high level of identification to the club have changed their attitude and intent to maintain affiliation to the program, due to the results obtained by the club s football team. However, differently from what the literature suggests, such changes were not accompanied by changes in self-esteem, sense of belonging and status perception, provided by the affiliation to the program. It suggests that other factors such as social interactions, rituals of consumption and visible and observable mechanisms – which are currently underdeveloped by club loyalty programs – can be important for the development of the feeling of affiliation, involvement and social distinction, which may cause changes in the perception of social benefits provided by the program, depending on the sporting performance.