Epsilon, a global leader in loyalty, personalization, and data-driven marketing services, has published the Epsilon Loyalty Index, new research which examines the potential drivers of consumer loyalty in the Australian marketplace. The research method is unique and collects data on several attributes which collectively forecast behavioral loyalty to brands.
Attributes were grouped into 3 primary sets of drivers:
- Share of value
- Share of mind
- Share of heart
Epsilon's Loyalty Index provides research on the Australian Loyalty Landscape with data collected from more than 2,000 Australian consumers covering four primary channels – Grocery, Banking, Apparel, and Beauty. Data from over 40 distinct brands was included. The raw data was analyzed with machine learning tools to correlate loyalty drivers, attitudes, and behaviors. The results provide an interesting and very practical assessment of what brands should be looking at to build stronger and more loyal customer relationships in each of the specific categories.
This unique approach allows loyalty marketers to leverage a measurement tool that can provide a benchmark for their brand against the best in their category. Ultimately, brands can control the levers that align with their own strategy to increase the probability of impacting consumer loyalty in the moments that matter.
Thirteen (13) individual attributes were studied to determine the most likely drivers for each category and insights from studying all 13 can be put to use and deployed by loyalty marketing teams. The outcome is an index based on underlying consumer attitudes to various facets of loyalty, enabling brands to do more of what truly matters and create relevant differentiation.
Outcomes and Benefits
The Epsilon Loyalty Index, Research on the Australian Loyalty Landscape, provides multiple benefits for marketers. Each of the four categories studied in the Australian marketplace offers a vastly distinct perspective on the drivers of true loyalty. What’s interesting about the share of mind, heart, and value attitudinal segments is that there is a larger cluster of factors and insights at play to define each. Marketers can thus take different paths to building loyalty and create an edge to differentiating their go-to-market approach.
Responding to the ever-evolving consumer loyalty landscape, the Epsilon Loyalty Index enables marketers to test strategies against an accurate, user-centric benchmark to see how they stack up versus their competitors and increase their chances of success.
For further details, visit Epsilon's Loyalty Index.
Australia is the first global market to be assessed using the Loyalty Index methodology. Epsilon is planning to use this research approach in other markets in the coming months. We will keep you posted.