On the 3rd March, the IPM was delighted to partner with Mando-Connect, for a thought leadership and networking workshop on ‘Loyalty Dynamics’.
The workshop focused on new research conducted by Mando-Connect’s Managing Director Charlie Hills and YouGov, which revealed in-depth insights into Brit’s attitudes towards loyalty programmes in 2020.
Charlie Hills and Joe Flagg presented the session’s whitepaper, revealing trends on Brit’s attitudes towards Loyalty programmes, a breakdown of each demographic’s commitment levels, what Brits think is really important in loyalty and how this would shape the future of Loyalty.
Commenting on the ‘Loyalty Dynamics’ workshop, Charlie Hills, Managing Director of Mando-Connect says, “We were absolutely delighted to partner with the IPM to host their first event focusing on Loyalty. Loyalty programmes are a hugely important part of any brand’s marketing mix, a vital tool to deliver brand, business and customer value. The research we presented with YouGov highlighted the positive impact on loyalty, recommendation, spend and emotional connection that good programmes have. And we were, of course, delighted to share the new insight that Rewards are the most important thing in loyalty to get right (to 69% of Brits). And that, in every sector in the UK, Partner Rewards are the most appealing typeof all. It was an absolute pleasure to be part of such a great session and we look forward to working with the IPM on more loyalty thought leadership as the year progresses.”
During his presentation at the event, Tatum explained what Behavioural Science is and how marketing experts can gain insight knowledge from it. He gave the example of a shopper’s attitude instore, for example, what draws them to pick up a product and how quickly they search for the product price label. This, Tatum explained, is valuable data that helps us understand what drives a consumer to the point of purchase because even the slightest behaviour has an impact on the product purchase.
Tatum suggested to drive loyalty, brands will need to start thinking outside of the box. He mentioned something as simple as coffee shops handing out coffee lids to customers standing in the queue or nearby. Once they had the coffee lids in their hands, it gave the affirmation that they will soon have a warm cup of coffee that they so patiently have waited in the queue for.
The second half of the workshop was a panel roundtable discussion led by Annich McIntosh from Loyalty Magazine. The panel speakers featured Camilla Cooper from Vodafone VeryMe Rewards, Paul Lodwidge from British Gas and Rob Chandler from Sky.
One particular finding that stood out with the panel speakers was the lack of engagement with the 18-24 demographic. According to the whitepaper finding, 18-24 years olds were less engaged in Loyalty Programmes. Nearly half (44.3%) of young men aged 18-24 are not members of a single loyalty programme. And just over one-third of young women aged 18-24 aren’t either £33.1%).[1]
During the discussion on this topic, Lodwidge posed the question, how do we tackle this age group?
Cooper suggested that whether the old school loyalty platforms are evolving or not, changing a working model or trying something new is crucial to try and reach this age group, and as a result more needed to be done.
In conclusion of the event, a member of the audience asked where the panel speakers thought loyalty was headed. Each panel speaker gave their thoughts on the future of Loyalty suggesting that Loyalty like much else, is a constantly developing programme. As customers wants and needs are now changing, they now begin to expect more from a loyalty programme. And it is a ‘make it or break it’ moment. Brands now must evolve to meet these customers’ demands or commitment to these programmes will be lost.
Chandler, however, suggested that the future of loyalty lies in how brands connect with their customers in the first place. Developing a strong brand relationship with their customers is important. The way that loyalty programmes are run should portray the brand as a close friend to the customer. By creating this friendship like relationship drives the loyalty and experience customers want.
However, Chandler takes care to warn, there is a fine line between creating a good brand experience through this and being too invasive. A relationship must be crafted in a way that shows transparency and builds trust with the customer.
Annich McIntosh, Managing Editor at Loyalty Magazine, says “It was an honour to be asked to chair the Brand Panel at the IPM’s first-ever event focused on loyalty, in partnership with Mando-Connect. With loyalty specialists Rob Chandler from Sky, Paul Lodwidge from British Gas, and Camilla Cooper from Vodafone, it was an incredibly insightful afternoon and an important take-home was that all three confirmed that their loyalty programmes were a vitally important and profitable part of the business. It is always important to understand the consumer perspective and so it was not surprising there was such a large audience to hear the presentation on the YouGov and Mando-Connect research into ‘What The Brits Want From Loyalty 2.0. One of the key take-outs was confirmation of the importance of rewards. Rewards are Brits top priority for loyalty programmes and the most important component of any programme. 69% of Brits think they are important. Great event, great afternoon and looking forward to more of the same from the IPM.”
To view the full Whitepaper from the launch event, visit https://www.theipm.org.uk/page/Incentive_Prize_Loyalty to find out more about our upcoming events, email membership@theipm.org.uk
[1] Mando-Connect and YouGov, What the British want from Loyalty programmes 2.0, p 5.
