One of the last events I attended before the lock down and enforcement of social distancing was a fascinating afternoon with the Institute of Promotional Marketing: Mando Connect were hosting and sharing their latest collaboration with YouGov ‘What the British want from Loyalty programmes 2.0’.
Amidst a wealth of invaluable information and insight for any loyalty practitioner were seeded 5 statistics that could just change the world. If that sounds melodramatic, take a deeper look with me.
Of consumers when choosing to become or stay a member of a loyalty programme cite ‘What the programme does to support charities and good causes’. That’s about a quarter of all people – one in four. And that was BEFORE the current upswelling in community spirit arising from the dreadful COVID-19 pandemic. I wonder what that figure will rise to when we all come through this? And yet … how many loyalty programmes can you name where consumers can donate their points or miles to the charity of their choice? Exactly.
Of consumers aged 18-24 years cite the same. And fully 30% cite what the programme does to support the environment. So if you want a glimpse into the future – think MORE concern for social causes, charities and the environment. Probably a lot more.
3. 44% / 33%
That’s the proportion of male and then female consumers aged 18-24 years who claim not to belong to ANY loyalty programme. Given that 47% of Brits claim to be more loyal to a brand when they are in a loyalty programme, 43% spend more and 39% recommend more – that’s a problem brewing for brands right there. What can they do about that? Clue: See (1) and (2) above.
Of consumers want rewards to be something that HELPS OTHERS through supporting good causes or helping the environment. Mando Connect comments – ‘It’s important to nearly 1 in 3 Brits and yet few big programmes are active in this space’. We’ve since seen some movement as a result of the change in national mood arising from the Coronavirus – is that one of the changes that will continue to build and become irreversible? We think so.
Of consumers will engage at an emotional level with ‘Brands that help the environment, charities and good causes’. For context that sits alongside 46% of people who want to engage with a British brand and 44% who want a big brand they know well. So it’s right up there with the biggest drivers of engagement – which itself is the goal of any brand marketer. As Mando Connect comments, ‘ We know that emotionally connected customers are worth more to a brand than those that aren’t’.
So how to summarise all of this? Mando Connect put it simply:
‘Eco and altruistic loyalty are on the rise’
And remember, all of these statistics were recorded BEFORE the Coronavirus pandemic struck – and shook the world.
Is it a stretch to say that combined, these 5 statistics could change the world? With over £7bn in unused rewards in the UK alone – and over $100bn in the USA – even before the effects and impact of COVID-19 – we don’t think so. How much of that value could be recycled into doing good – to supporting foodbanks, helping the elderly, protecting vulnerable children in the UK and around the world, protecting wildlife, animals and the environment or indeed supporting the incredible work of the NHS. Or any other good cause YOU can think of and would love to support.
We believe rewards can be a new currency for giving to charity. With the Institute of Fundraising reporting that charities are predicting a 48% decrease in voluntary donations and a 43% increase in demand due to COVID-19, this particular change to the world can’t come soon enough.
To see the full report from Mando Connect and YouGov click here www.mando-connect.co.uk