Adam Posner presents 10th edition of the annual Australian consumer research study tracking key trends and insights on customer loyalty and loyalty programs. In its 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!
GLOAdam Posner, one of the leading experts of Autralian Loyalty market is out with For Love or Money™ 2022 report & Special Edition.
For Love or Money™ 2022 report – Key Takeways: Full report here
Comprehensive report with a presentation from the author
Benefit from both the research and a presentation from the the author of the research, Adam Posner, a loyalty program specialist consultant.
Adam will personally present a summary of the findings and their impact on the future of customer loyalty and loyalty programs.
“I commend Adam Posner to any business looking for insight on the Australian retail loyalty landscape. We have subscribed to his For Love or Money™ research for a number of years now to guide our marketing planning, but chose to have the latest report delivered in person via a tailored presentation. This was a thoroughly worthwhile investment, with Adam’s engaging speaking style and relevant examples really adding to the engagement with the content. Our marketing team dedicated two hours to the session and really valued the ability to ask questions specific to our industry. I have received only positive feedback from the team and will look to repeat with future editions.” Lauren McFaul – Head of Customer Relationships – Viva Energy Australia
What’s in this report 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 7: Tracking new ways to be rewarded
- Tracking changes to 8 ways of rewarding members since first revealed in the 2020 study
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
For Love or Money™ 2022 – SPECIAL EDITION: Full Special Edition report here
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.
