Each year marketers in all industries look for the For Love or Money Report to track changes in trends on loyalty programs in Australia.
In a year when customer communication has undergone a significant shift and become more important than ever the insights into what customers think of loyalty programs is vital for 2021 planning.
This year 61% of consumers believe businesses need a loyalty program to keep customers loyal but only 46% admit they are active in an average 4.4 memberships. This is the lowest participation and a significant decline since 2015.
Their biggest concerns were:
Data Use: knowing how the data was used (49%)
Data Security: knowing how secure the data is (48%)
Value: Lack of value given the effort to achieve rewards (46%)
To download the Summary Report here >>>> https://the-drop.com.au/wp-content/uploads/2020/11/ForLoveorMoney2020_Aus_EXECSUM_Final_1105.pdf
You can purchase a more comprehensive report here >>> For Love or Money™ 2020 – loyalty program research (thepointofloyalty.com.au)