For the first time in our ongoing customer loyalty and loyalty program research For Love or Money™ 2022, we identified and benchmarked the Collection of Six Currencies loyalty program members care about.
Going deeper on the Collection of Six Currencies - ranking the appeal of 62 benefits and rewards
To provide brands with more insights to design loyalty program propositions that are meaningful and desirable to members, The Point of Loyalty has extended the Collection of Six Currencies loyalty program members care about by ranking the appeal of 62 benefits and rewards across the Six Currencies.
Special Edition - Six Currencies and 62 benefits ranked by loyalty program members
The Special Edition report covers the Six Currencies and the relevant 62 benefits and rewards as a ranking based on how appealing they are to loyalty program members.
The report is available to purchase and identifies the appeal of the relevant benefits and rewards by gender and the generations (Gen Z, Gen Y, Gen X and Baby Boomers)
Money: 15 x Financial currencies researched
These included benefits and rewards to save members money, ranked by how appealing they are to loyalty program members.
Examples (among others) - cryptocurrency, cashback, discounts, spend and save, points earn and redeem, free returns, NFTs, rewards as shares and more.
Memory: 13 x Experiential currencies researched.
These included benefits and rewards to add moments of magic to the lives of members, ranked by how appealing they are to loyalty program members.
Examples (among others) - gamification with rewards, gifts with purchase, VIP events, surprise and delight, online treasure hunts, experiences to enjoy and more.
Time: 10 x Functional currencies researched
These included benefits and rewards to save members time and make life easy, ranked by how appealing they are to loyalty program members.
Examples (among others) - digital receipts, member support hotline, alerts when an item you want to purchase goes on sale and more.
Me: 7 x Personal currencies researched
These included benefits and rewards to show members that programs know who they are and make them feel special, ranked by how appealing they are to loyalty program members.
Examples (among others) - exclusive offers tailored to needs, personal shopping concierge, personalised communicated based on behaviours and more
My Choice: 9 x Choice currencies researched
These included benefits and rewards to let members choose their rewards, ranked by how appealing they are to loyalty program members.
Examples (among others) - choice of birthday reward, choice of gift with purchase, choice of rewards, personal sales day such as choose your discount day and more.
Us: 8 x Social currencies researched
These included benefits and rewards to connect members with community and causes, ranked by how appealing they are to loyalty program members
Examples (among others) - rewards to help the environment, connect with a community of brand ambassadors, shop with your friend’s day and more.
A report to develop a valuable loyalty program
For those brands designing new loyalty programs or reviewing an existing program this report provides insights on how appealing 62 benefits and rewards are in their specific Currency of Collection.
You can purchase a copy of the report at The Point of Loyalty – For Love or MoneyTM 2022
Have a happy loyalty day!
