What’s in For Love or Money™ 2022 that will make a difference to your customer loyalty strategies and loyalty program success?
This is the 10th edition of the annual Australian consumer research study tracking key trends and insights on customer loyalty and loyalty programs.
It has 10 sections, seven new areas were researched, 59 summary insights are provided and many 100’s of results and insights by gender and the generations (Gen Z, Gen X, Gen Y and Baby Boomers) to help loyalty marketers lift their loyalty strategies and programs out of the sea of sameness – towards success!
Section 1: Loyalty is not a program. What is loyalty? The consumers’ point of view
- Identifying and tracking the 11 dimensions of loyalty to a brand/business based on three connections: Behaviour; Belief; Belonging.
Section 2: The voice of loyalty: recommending a brand
- *NEW* Who is more likely to recommend a brand? At what stage of the experience with the brand or business are recommendations more likely?
Section 3: Actions leading to loyalty
- There are many actions brands can take to generate loyalty. 14 actions leading to loyalty were researched in 2022 and benchmarked to 2018.
Section 4: The Australian loyalty program landscape
- Memberships (% of population and per member)
- % of members with 10 or more memberships
- Member activity (volume is for vanity, activity is for sanity)
- Top 10 Australian loyalty programs ‘doing a very good job’
- 44 programs listed based on memberships
Section 5: A loyalty program’s impact on the host brand it belongs to
- Do loyalty programs add to the overall brand experience?
- A loyalty program’s influence on three motivations to interact with a brand
- The concerns members have about loyalty programs (eight concerns ranked)
Section 6: Member experience, interaction, and engagement
- Ranking the three principles for optimising the loyalty program experience
- Member interaction, identification, and payment integration
- Are members making the most of the rewards and benefits of their program memberships?
- Why don’t members take enough advantage of rewards and benefits?
Section 8: The state of play on loyalty program structures and benefits
- Subscriptions. Hot or not?
- *NEW* Preference for different program types (points-based programs; package of benefits; Spend-based programs)
- *NEW* Multiple methods of payment: are loyalty points an option?
- *NEW* Benefits connected to a cause or charity: earning rewards to donate to a cause or charity
- *NEW* Payments and card-linking: Integrating a payment card to loyalty program memberships (preference and barriers)
- Credit cards with rewards: are they still worth it?
Section 9: The Collection of Six Currencies loyalty program members care about
- *NEW* For the first time in the For Love or MoneyTM research studies, the Point of Loyalty’s model – The Collection of Six Currencies members care about, have been researched with loyalty programs members
Section 10: Loyalty program data collection and use: privacy, trust and personalisation
- Loyalty program data collection and use: enhancing experience or invading privacy
- Loyalty program data and trust: the Net Data Trust score (NDT)
- How is loyalty program personalisation performing?
- *NEW* Member expectations of loyalty programs using data in a personalised and relevant way
Have a happy loyalty day!