In a few more weeks, the results and insights from the 2021 and 9th Australian Edition of For Love or MoneyTM, will be released.
This year we have also released the 2nd For Love or MoneyTM New Zealand Edition research study (first one was completed in 2019) and a comparison study of Australia and New Zealand.
Independently commissioned and researched in the first quarter of 2021 with 1000 Australian and 1000 New Zealand consumers who are a member of at least one program, this study takes the pulse of customer loyalty and loyalty programs.
In this year’s studies we have covered 7 key areas, each with specific insights of interest:
1. Tracking changes in the Australian and New Zealand loyalty program landscape
1. Profiles of loyalty program members
2. Active participation in programs
3. Ranking Australian and New Zealand loyalty programs – ‘doing a very good job’
2. The impact of COVID-19 on brand loyalty and loyalty programs - 2020 and 2021
1. The impact of COVID-19 on brand loyalty: Looking back at 2020
2. The influence of loyalty programs while COVID-19 prevails
3. Attitudes to ‘loyalty’ and loyalty programs
1. What is loyalty? The consumers’ point of view
2. Do brands need a loyalty program to keep their customers loyal?
3. Are loyalty programs improving?
4. Where should programs improve in the future?
5. Improvement of loyalty programs to-date vs future focus
4. Member interaction and engagement
1. Member interaction, identification and payment integration
2. Ranking the three principles for optimising the loyalty program experience
3. What are the most important moments of a member’s experience with a loyalty program?
5. Loyalty program structures and benefit preferences
1. Subscriptions: Loyalty programs with free membership vs with a subscription fee
2. Partner ecosystem: Earn and redeem rewards within vs beyond the brand specific program
3. Timing of rewards: Earning rewards instantly vs earning rewards for future purchases
4. Rewards for referrals: Earning rewards for referrals vs no rewards for referrals
5. Cashback shopping platforms: Awareness and interest
6. Gamification: Loyalty programs and gamification
6. The five loyalty program persona profiles
1. Loyalty program member persona profiles. A benchmark was set in 2019 – what’s changed?
7. Loyalty program data collection and use: privacy, personalisation and trust
1. How do members feel about loyalty programs collecting and using their information?
2. What do members consider when providing their data to loyalty programs?
3. Loyalty program terms and conditions - do members read them?
4. How is loyalty program personalisation performing?
5. Loyalty program data and trust – The Net Data Trust Score (NDT)
I look forward to releasing the reports in the next few weeks and sharing trends and new insights to assist all loyalty program marketers lift their customer loyalty and loyalty program strategies and programs out of the “sea of sameness” towards success.
Have a happy loyalty day!