Loyalty Highlights: Pain Points – Global Loyalty Trends Report 2022
Our ‘Global Loyalty Trends Report (GLTR) 2022’ was created in an effort to better understand the brand: Pain points, Loyalty Programs, and Loyalty/Tech Investments in 2022.
Catch up on key loyalty insights through our “GLTR 2022 Mini-Series” where we break down some of the core topics we discussed in our full report and emphasize some of the more intricate details. Starting off with a fundamental topic, “Loyalty Pain Points”.
Top loyalty Pain Points
A mature loyalty market puts growth at a premium, therefore any hindrances or obstacles that present themselves are labeled as pain points, check out what the top brands reported as their top pain points below.
From the research conducted and data collected we determined that the top 3 loyalty pain points reported by brands from various industries included:
-
Low Member Engagement Rate
-
Low Member Acquisition Growth
-
Few Engaging Redemption Options
%
Partner Products/Services
The data indicated that brands that offer partner products and services as a reward option, tend to suffer from high-partner management costs. Demonstrating how brands in the market want to explore partnerships for their program but don’t have the means to execute an efficient expansion.
56% Of loyalty programs that offer partner products/services as a reward, tend to report a “High Partner-Management Cost” – qiibee GLTR 2022
This in combination with the fact that a majority loyalty programs think that it takes too long for their customers to earn a reward. Gives a great insight into some of the key inefficiencies that exist in today’s loyalty market and the lack of solutions available to solve the current pain points.
55% Of loyalty programs think that it takes too long for their customers to earn a reward in their program – qiibee GLTR 2022
%
Earn Rewards
Key Takeaways (TL:DR)
-
We created the “GLTR 2022 Mini-Series” as a means to break down some of the core topics we discussed in our full report and emphasize some of the more intricate details in our blog posts. Starting off with a fundamental topic, “Loyalty Pain Points”.
- From the research conducted and data collected we determined that the top 3 loyalty pain points reported by brands from various industries included:
-
Low Member Engagement Rate
-
Low Member Acquisition Growth
-
Few Engaging Redemption Options
-
- Furthermore, it was also observed that brands that offer partner products and services as a reward option, tend to suffer from high-partner management costs (56%).
Keep an eye out on our socials to find out when our next loyalty report mini-series post is released and discover more exciting insights about loyalty from the top brands around the world.
Make sure to share your favorite stats/insights on all socials, tag us @qiibee and use the hashtag “#qiibeeGLTR2022”, so we can retweet all your posts!
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