This article was originally posted by Wisemarketer. You can view it on their site here.
iSeatz has released a new survey report that it says is the first industry analysis exploring the dynamics of membership and subscription-based organizations.
The report is titled The Benefits of Belonging and it uncovers a distinct set of loyalty and customer engagement priorities and preferences offering unique insights that diverge from previous iSeatz research of consumers and commercial loyalty program professionals.
The data shows that while each type of organization has its own needs (based on industry focus and operational and commercial goals), they all share a commonality:
Travel rewards can help achieve critical business and revenue goals –attracting new members and increasing engagement with existing ones.
Key findings from the report include:
- Frequent Engagement: Over 80% of members actively engage with their organizations weekly, underscoring the power of strong brand affinity between members and their communities.
- Travel Rewards Opportunities: 23% of members said they would book travel through their organization if they were sure they would be getting a better deal than with another travel site.
- Personalization Preference: 65% of members say they would like personalized discounts on core travel purchases and 47% on bundled travel packages, pointing to personalization as another way to boost member engagement.
- Unique Investment Priorities: Membership organizations prioritize investments differently from traditional brands, focusing more on marketing (60%) and personalization (37%) to enhance member experiences, highlighting a potentially missed opportunity to offer members a wide range of options, increase existing member engagement, and entice new members to join.
- The High-Value Subscribers: These members have unique characteristics, such as high engagement and willingness to spend, making them prime targets for effective travel rewards strategies.
- Tech Powers Travel Choices: Most organizations (95%) that use outside companies for their loyalty programs can offer more types of travel rewards. This contrasts with a smaller number (30%) who manage their programs on their own (88%) and have fewer options. This shows that working with external tech experts helps expand reward offerings.
You can find the original press release here which outlines additional takeaways from the report.
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