Marketers look to offer more personalized loyalty programs in APAC (report)
Antavo's customer loyalty report looks into the key trends and challenges that APAC marketers face in 2022 and beyond.
Earlier this week, loyalty management platform Antavo released a report titled “APAC Customer Loyalty Report 2022.” The research surveyed 78 respondents (including CMOs, CRM executives, and loyalty professionals) and compiled 2.2 million customer interactions (collected anonymously between 2018 and 2021) in Asia Pacific.
With the report, Antavo seeks to unpack the region’s customer loyalty program trends and sentiments. The martech firm also compares its regional findings with global respondents.
Here are three quick takeaways from the research.
1. It’s essential to track the ROI of loyalty programs
According to third-party research, a staggering 92% of consumers in APAC prefer to shop from brands that offer loyalty programs. 66.7% of Antavo's respondents also believe that customer loyalty and loyalty marketing is important.
On average, organizations that offer loyalty incentives allocate 23.3% of their total marketing spend on loyalty program management and CRM. However, only half of them (57.6%) actively measure the ROI of loyalty, scoring 9.6% below the global benchmark.
This same group of people says they’re not satisfied with their current programs. In contrast, the ones who track ROI are generally happier with their campaigns.
2. Marketers should consider offering more emotional loyalty rewards
30.3% of APAC marketers classify their loyalty programs as emotional (as opposed to rational), this time scoring 9.6% above the global average. This means that they mainly offer their customers experiences (such as gifts and VIP treatments) instead of transactional benefits (like discounts and cashback).
Expert respondents note that emotional programs are indeed harder to track. However, they reportedly make customers less likely to move to a competitor. They also help turn customers into brand advocates with a positive Net Promoter Score.
The report says that APAC marketers are on the right track with emotional programs and should continue to take the approach seriously.
3. Next trend: more personalized rewards
The report reveals that one-third of respondents (30.3%) currently offer some form of personalized rewards (like tailored offers based on the customers’ shopping habits). 57.6% of APAC marketers want to implement this, with one out of four marketers (24.2%) making it their priority.
Expert respondents say that personalization is all about making the customers feel special, which improves brand engagement and customer retention. Businesses can also save money by not giving away unwanted rewards and coupons.
You can find more key trends and challenges related to loyalty programs inside the report.
If you enjoy data like this, then you should also check out (and bookmark) this article which compiles hundreds of interesting marketing statistics into an easy-to-skim digest.
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