Description
For Love or Money™ 2022 - SPECIAL EDITION: The Collection of Six Currencies loyalty program members care about
62 benefits and rewards ranked by how appealing they are to loyalty program members.
This 25-page Special Edition report has been compiled as a unique research report of the 10th edition of the For Love or Money™ 2022 consumer research study taking the pulse on customer loyalty and loyalty programs in Australia.
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 benefits and rewards for each of the Six Currencies.
For Love or Money™ 2022 - SPECIAL EDITION: The Collection of Six Currencies loyalty program members care about reveals 62 benefits and rewards ranked by how appealing they are to loyalty program members.
Money: 15 x Financial currencies include benefits and rewards to save members money, ranked by how appealing they are to loyalty program members.
These include, 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 include benefits and rewards to add moments of magic to the lives of members, ranked by how appealing they are to loyalty program members.
These include, 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 include benefits and rewards to save members time and make life easy, ranked by how appealing they are to loyalty program members
These include, 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 include 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.
These include, among others - exclusive offers tailored to needs, personal shopping concierge, personalised communicated based on behaviours and more
My Choice: 9 x Choice currencies include benefits and rewards to let members choose their rewards, ranked by how appealing they are to loyalty program members.
These include, 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 include benefits and rewards to connect members with community and causes, ranked by how appealing they are to loyalty program members
These include, among others - rewards to help the environment, connect with a community of brand ambassadors, shop with your friends day and more.
For those brands designing 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.
It also identifies the appeal by gender and the generations (Gen Z, Gen Y, Gen X and Baby Boomers).
NOTE: All 62 benefits have been collated by the author and while not comprehensive, provide an insight into which of these 62 benefits resonate with members of loyalty programs.
