With a new year not too far away, I am planning a bumper edition of the 2022 For Love or MoneyTM research study.
If you have any specific areas of interest you would like gain insights on loyalty and loyalty programs, I’d welcome your recommendations (with no promises).
Here are some of the insights we are seeking to expand on in 2022:
1. Tracking changes in the Australian loyalty program landscape
- Profiles of loyalty program members
- Active participation in programs
- Ranking Australian loyalty programs – ‘doing a very good job’
2. Attitudes to ‘loyalty’ and loyalty programs
- What is loyalty? The consumers’ point of view (ongoing benchmarking)
- Actions leading to loyalty: The consumers view on actions brands can take to make consumers loyal (or more loyal)?
- The referral moment: When do consumers recommend a brand or business?
- Influence: Do loyalty programs influence the three motivations to interact with a brand – decide, purchase, recommend?
- Impact on the brand experience: Do loyalty programs add to the overall brand experience?
- Expectations: Do loyalty programs increase members' expectations of the brand’s quality, service and overall experience?
- Concerns: Ranking of members’ concerns with programs
3. Member interaction and engagement
- Member interaction, identification and payment integration (ongoing benchmarking)
- Ranking the three principles for optimising the loyalty program experience
- Are members taking advantage of most of the benefits and rewards available to them? If not, why not (list of reasons).
- Identifying new ways for members to be rewarded
4. Loyalty program structures and benefits
- Subscription guilt: Do members experience ‘subscription guilt’ by not taking advantage of the benefits offered through their subscriptions?
- Preference of payment methods
- Credit cards with rewards: How appealing are they?
- Programs connected to causes or charity: Is this benefit appealing?
- Card linking: Likelihood to link payment cards to program memberships and if not, why not
5. The six currencies loyalty members care about
6. Ranking the appeal of a list of benefits and rewards for each of the six currencies
7. Loyalty program data collection and use: privacy, personalisation and trust
- Data collection and use: How do members feel about loyalty programs collecting and using their information?
- Data provision: What do members consider when providing their data to loyalty programs?
- Personalisation: How is loyalty program personalisation performing?
- Loyalty program data and trust: The Net Data Trust Score (NDT)
I look forward to conducting the research in the first quarter of 2022 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!