What does Australia’s customer loyalty landscape look like?

In order to create a killer customer loyalty program, you need to know your customer inside and out. What makes a good customer loyalty program in Australia – and anywhere for that matter – is how effectively it targets your customer base.

Gartner Inc. recommends that B2B businesses borrow B2C marketing techniques in order to be successful. So, let's look at what you can learn from The Point of Loyalty's 2017 report "For Love Or Money" and how you can apply its insights on consumer loyalty when you implement a B2B customer loyalty program.

87 per cent of Australians are enrolled in at least one loyalty program.

1. An increasing number of Aussies are enrolling in loyalty programs

Australians love to be loyal! The Point of Loyalty's latest report reveals that 87 per cent of us are enrolled in at least one loyalty program (some are enrolled in more than one). In 2015, 84 per cent of Australians were enrolled in loyalty programs, so the findings indicate more Aussies are signing up. 

This is positive news if you're looking to get your own loyalty program off the ground, as it indicates that Australian customers like to be rewarded. So give them what they want!

2. Australians consider loyalty programs to be valuable

This not surprising, given that more Aussies are signing up to loyalty programs. The reason they're doing so is because they see them as positive. The Point of Loyalty's report found Australians consider loyalty programs to be valuable for businesses, and were more likely to buy from companies that had loyalty programs, in particular those that had loyalty programs they were members of. 

If prevailing attitudes are that consumer loyalty programs are valuable, then this will translate into their business decisions. Your B2B customers also want to be rewarded for their loyalty to you. 

3. Millennials belong to more loyalty programs than any other generational cohort

What does Australias customer loyalty landscape look like?
Millennials tend to sign up to more customer loyalty programs than other generational cohorts.

The Point of Loyalty's report also found that millennials are members of more customer loyalty programs than other generational cohorts. On average, millennials are members of 5 loyalty programs, compared to 4.5 for Generation X and 3.5 for Baby Boomers. 

Millennials make up the largest proportion of Australia's workforce today – 34 per cent according to McCrindle research. They'll also continue to make up the largest proportion of the workforce for much of the next decade. This generation will be the decision-makers in years to come, so it's best you get on board by offering loyalty programs that cater to their unique needs and interests. 

If you need help implementing a B2B customer loyalty program that caters to the Australian business climate, get in touch with 2one2F.