Outcomes from the eleventh version of the annual Australian buyer loyalty and loyalty program analysis examine, For Love or Cash™ 2023, reveals 42% of loyalty program members turn out to be extra actively concerned with their applications throughout instances of financial uncertainty to maximise rewards and financial savings.
Commissioned within the first quarter of 2023 by buyer loyalty consultancy – The Level of Loyalty,
For Love or Cash™ 2023 additionally reveals how manufacturers who put money into loyalty applications additionally profit.
Report creator and CEO of The Level of Loyalty, Adam Posner stated “With rising inflation and financial uncertainty, it’s not shocking members are extra engaged with applications they know and belief to earn extra financial savings and rewards.”
Adam added “Often known as loyalty program ‘double clickers’, these members are looking for to save cash and
applications have an incredible alternative to be extra loyal to their members by offering extra worth to them.”
He continued to say, “Loyalty program managers can step-up and discover methods to have interaction with their members as they work together and transact extra, and the enterprise is rewarded with retention and repeat enterprise”.
The impression of information safety breaches on loyalty program members perspective to the info worth alternate.
The analysis additionally revealed one of many unintended penalties of latest knowledge safety breaches is most loyalty program members (55%) are actually extra involved about sharing their knowledge with applications however will nonetheless accomplish that, figuring out they’re gaining advantages and rewards from this system.
Nonetheless, even with these broadly publicised breaches, a couple of in 5 loyalty program members
(22%) are nonetheless assured with the safety protocols of loyalty applications and are blissful to share their knowledge, figuring out they’re gaining advantages and rewards from this system.
Adam Posner added “These outcomes spotlight two colleges of thought in that members’ consciousness and
sensitivity to sharing their knowledge is heightened, nevertheless they’ll nonetheless share when there’s a honest worth
alternate. On the opposite aspect of this, there’s a degree of belief in loyalty applications being extra centered on
knowledge safety now.”
Loyalty applications have improved of their expertise and digital expertise. The analysis has been
monitoring areas applications want to enhance in since 2018 with a big enhance (from 34% in 2018 to
44% in 2023) of members indicating applications have improved the digital expertise together with cell
apps and cell funds.
Posner added “Loyalty applications have continued to put money into bettering the general expertise for his or her
members and of the numerous elements impacting the expertise, digital engagement in areas reminiscent of fee integration has turn out to be extra seamless and nearly a hygiene issue”.
NEW: From Loyalty Program to Joyalty* Program. Members of loyalty applications are nonetheless searching for
applications to enhance in areas reminiscent of extra shock and delight presents and advantages. The analysis reveals new insights on how loyalty applications can join with members in a extra emotionally uplifting manner by including extra pleasure to their members’ lives.
Posner added “I consider applications have to carry their propositions from being transactional so as to add extra
moments of magic or what I name Joyalty*. Applications offering rewards or advantages which are sudden
delights, go a protracted solution to emotionally connecting members with applications and their model”.
NEW: Loyalty Applications enjoying their half to assist society and enhance the lives of members. One other new
are explored within the analysis recognized the place applications will help remedy issues on this planet round us
reminiscent of in sustainability, serving to others much less lucky and giving members extra methods to buy neatly and dwell inside their means.
Posner stated, “As loyalty applications turn out to be so widespread in society, it’s fascinating to see how applications
can turn out to be extra significant within the lives of members and the way they’ll in some small manner remedy a few of
the challenges all of us face on this planet at the moment”.
A complimentary Government Abstract of the complete report is offered at www.thepointofloyalty.com.au with a complete report accessible for buy at www.thepointofloyalty.com.au.
Adam Posner: CEO – The Level of Loyalty
0433 818190
adam@thepointofloyalty.com.au
Concerning the Analysis
The For Love or Cash™ 2023 analysis is the eleventh version of the annual analysis examine. It was
commissioned by The Level of Loyalty and carried out independently by First Level Analysis and
Consulting within the first quarter of 2022 by way of a nationwide on-line panel of 1,040 Australian customers of
women and men aged 18+ who’re members of no less than one loyalty program. The analysis was
structured to realize quantitative outcomes with comparative evaluation in addition to qualitative insights.
Concerning the Level of Loyalty
The Level of Loyalty is a strategic buyer loyalty and loyalty program consultancy devoted to driving
enterprise progress from present prospects by way of useful loyalty and rewards applications. CEO Adam
Posner is a buyer loyalty specialist and has been concerned within the design, improvement and deployment of buyer loyalty and rewards applications throughout industries together with leisure, pharmacy, accommodations and lodging, commerce, schooling, hospitality and retail (numerous).
