Loyalty Programs Survey Results

Dear qiibeeans, as you know we ran a survey with our partner mindnow, at the end of last year until beginning of this year, and asked questions about the usage of loyalty programs among customers. The aim of the survey was to learn more about how customers use loyalty programs and understand the related customer behaviours. And before checking out the results, a big THANK YOU to all of the 745 people who completed the survey. The SurveyTokens will be transferred to your wallet by latest Friday the 13th of March.

From the 745 people participating in the survey, 489 persons told us their age. The majority of the participants was with 72.39% older than 40, while over 20 year old participants made 27.2% and only as little as 0.41% were younger than 20. These numbers are aligned with the data analyzed in ‘2019 Customer Engagement & Loyalty Statistics’ saying that 66% of loyalty program members are older than 34 years. This underpins the importance of this survey, since most of the participants are in the core customer group of loyalty programs.

Let’s start with the top 3 numbers that impressed us the most:

Top 3 Findings:

• 83% of people would like to have more value by exchanging their loyalty rewards (i.e. exchange loyalty points from coffee shop to airline miles.)
• 53% of people would like to exchange their points / stamps / miles into cryptocurrencies.
• 38% of customers would spend more for a product if their rewards were exchangeable.

Loyalty Program Customer Behaviour

Now let’s check out the other results and findings.

71.28% of survey participants are enrolled in 1–10 loyalty programs on average, whilst 17.45% are enrolled in 10–20 and 11.28% are enrolled in more than 20 loyalty programs.

And what they expect the most from being enrolled in loyalty programs, is to save money, which 27.63% said and expecting to receive gifts do 25.45%. Just as little as 10.8% do it out of fun.

To receive these benefits, 36.02% use the reward program of their grocery store the most, followed by 11.35% of people who make use of their credit card for that and 10.28% at restaurants and coffee shops.

But how many of the loyalty programs that customers are enrolled in, are they actually using? The majority, 23.62% are using less than 10% and 67.38% of all survey participants say that they use less than half of the loyalty programs they are enrolled in. Only 6.17% use all of the loyalty programs they are registered.

And the reason for that, is mainly because they are enrolled in too many programs and lost overview, which said 20.95% followed by 16.86% saying that it takes too long to receive rewards and 14.24% having issues redeeming rewards.

Some of the participants mentioned that they think that most of the rewards are not attractive, that they simply forget about them or forget their loyalty cards before going to a shop, and simply having no time to think about gathering loyalty points, and then redeeming them.

Loyalty on the Blockchain

In the second part of the survey we asked people where blockchain could help the(m) most, when it comes to loyalty programs and also here we are excited to showcase the results.

When it comes to ‘Loyalty on the Blockchain’, 83% of people would like to have more value by exchanging their loyalty rewards (i.e. exchange loyalty points from coffee shop to airline miles) whilst 52.75% of participants would welcome being able to exchange their rewards into crypto currencies.

77% would even go further, and buy a product at a specific shop where they can exchange their rewards to other rewards or crypto currencies while 50% of these respondents would even spend more for the product (then at a competitors place) to then receive exchangeable rewards.

All of the above mentioned is underpinned with the fact that the Nr. 1 benefit, 44.43% of the people would value the most when all their loyalty programs would be on the blockchain, is to exchange rewards. This is followed by 27.52% who would appreciate the instant transaction of rewards, followed by 14.09% who want increased security of their rewards.

Fact is also, that 95.3% of participants knew about blockchain, while 4.7% didn’t know what blockchain is. Since we didn’t focus at all on a blockchain or crypto related target group, it’s great to see that nearly all participants know about blockchain technology. Your customers are ripe for loyalty on the blockchain. Are you? ;)

Not to forget, customers are willing to support brands. 38.12% would take surveys to help the brand understand its customers better. In second place, with 11.01% of customers would like to be rewarded for simply checking in at an (online) store and referring the brand to friends and family said 10.2% of participants. What customers seem to be least interested in, being rewarded for, are watching ads with 2.55%.

Last but not least, we want to thank our partner MINDNOW for the great collaboration on this survey. It was an awesome chance for both companies, to improve our products and we will be able to implement the results in further research papers and presentations for future partnerships. To learn more about qiibee, subscribe here to our monthly newsletter and make sure to stay up to date with all the newest developments and partnerships on our channels: Twitter, Facebook, Linkedin, Instagram and of course: Telegram.

About qiibee: Through qiibee’s plug-and-play solution, enterprises worldwide are running and operating their loyalty programs on the blockchain in just a few hours. Want to learn more? Check out qiibee.com