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The annual Australian customer loyalty and loyalty program research study - 'For Love or Money 2018' is in the final stages of analysis and will be released in June 2018:
What’s new in 2018.
This research study looked for new insights to help improve understanding of the changes in the wider market impacting consumer behaviour and where relevant the connection to loyalty programs:
- Cryptocurrency and loyalty programs – where’s the opportunity?
- The impact of Amazon on consumer buying behaviour
- Loyalty program data collection and use: Enhancing members’ shopping experience OR invading their privacy?
- Have loyalty programs improved? Where do they need to improve in the future?
- Are programs being recommended? (A powerful measure of engagement)
The research also tracked changes in the Australian loyalty landscape to build on trends and insights revealed in previous studies (2013 to 2017) including:
- Memberships of loyalty programs (volume and demographics)
- Active engagement in programs
- Who is doing a very good job – top programs for 2018 (unprompted)
- The 3 motivations to join a loyalty program
- The 24 ingredients of successful loyalty programs
- Interacting with a program – card, mobile and payments
Understanding loyalty to invest in loyalty
As brands and businesses continue to invest more in customer retention and loyalty, gaining clarity on what loyalty is helps to determine why it is important for a business to invest in customer loyalty as a growth strategy and how to achieve it as a profitable outcome. The 2018 study continues to track changes on the benchmark insights from 2017 in the three areas of:
- What is loyalty? Beyond enrolling in a loyalty program, what does loyalty mean to consumers?
- What actions taken by a brand/business lead consumers to be loyal (more loyal) to the brand/business?
- What are the three reasons and their respective importance that motivate consumers to purchase over the longer term from a brand/business compared with similar competitor options.