63% of respondents would increase their spending with brands that offer live music perks.
Australia and New Zealand boast some of the most engaged consumer groups worldwide in terms of brand loyalty programs, according to a study by Live Nation Entertainment.
The global study, Driving Loyalty, performed by the multinational entertainment company, which explored the impact of live music in bolstering brand loyalty among consumers, found 75% of Aussies and Kiwis would enrol in a brand loyalty program offering live music perks.
77% of responses, collected from individuals aged 18-54, indicated that they felt valued by companies when enrolled in a loyalty program, with 94% perceiving such programs as money-saving endeavors.
91% were already members of retail loyalty programs, followed closely by 59% in fast food chains, with a third redeeming rewards on a weekly basis. Additionally, 57% participate in clothing apparel loyalty programs, and 55% in travel-related loyalty schemes.
Discounted tickets emerged as the most desirable perk among Generation Z, while “comfort” VIP experiences held significance for older millennials and Generation X.
Moreover, over half of all participants indicated a willingness to switch to a loyalty program with live music benefits, citing such programs as more innovative and relevant to their lifestyle.
Furthermore, 63% intend to increase their spending with brands that offer live music perks.
Frances Deighton, strategy lead at Live Nation Entertainment, said, “Live music has the power to generate emotion and consumer passion like nothing else, and there’s an incredible halo effect for brands that include live music perks in their loyalty programs.
“You never forget the experience of a live music event, and based on survey responses, this includes the brands that help bring these events to life.”
Globally, 67% of music enthusiasts regard live music events as the setting for some of their most memorable moments, with two-thirds associating their emotions with the brands, products, and services encountered at such events.
Kristy Rosser, senior vice president of marketing solutions and client services for Live Nation Australia and New Zealand, said, “Maintaining relevance will be key for brands in 2024, and ensuring the right customer needs are consistently met will magnify a brand’s perceived value.
“Introducing music perks into a loyalty program is a surefire way to boost customer engagement and retention. With so many epic live music experiences coming up in 2024, there’s never been a better time to engage customers with music.”
This article was originally published by Mediaweek on 12 February 2024. View original.
Photo by Tijs van Leur on Unsplash.
