According to new research from multichannel loyalty and engagement firm CrowdTwist, women are more brand loyal than men, yet price and quality are factors that change buying preferences to preferred brands. The firm’s recently released report, Battle For the Sexes: The 2016 CrowdTwist Gender Loyalty Report, provides a closer look at how men and women perceive loyalty and their motivations for participating in loyalty programs.
While women have traditionally held the purchasing power, brands are facing increasing pressure to engage with both men and women. To win their attention and affection, companies should fully understand which factors drive each gender to become brand loyal—and how to structure a loyalty program to properly motivate long-term engagement.
“Our latest research shows that there are distinct differences in what drives men and women to be brand loyal, yet similarities exist regarding what motivates each gender to participate in loyalty programs,” said Emily Rudin, SVP of client success at CrowdTwist, in a news release. “With the lines blurring, brands have an opportunity to create memorable programs and experiences that engage both men and women.”
Key study highlights:
- Women are more brand loyal than men. Of the two genders, women are more loyal to brands. In fact, women are 22.19% more likely than men to always buy the product or services regardless of price, quality, convenience, or brand promise. Brands must further nurture men to drive greater loyalty.
- Price and better quality impact brand loyalty for some men and women. Overall, men and women are loyal to specific brands, but 35.66% of men and 28.77% of women would consider other alternatives that offer better quality. In addition, 35.03% of women and 32.95% of men would consider other alternatives to their preferred brand or product that offer a better price. Brands should consider these points in their quest to win loyalty.
- Loyalty programs drive men and women to shop with a particular brand. Some 76.82 percent of women and 73.84 percent of men are likely to shop with a brand that has a loyalty program. Age plays a factor in women’s shopping habits. Some 81.76% of millennial women versus 76.34% of Generation X women and 57.59% of baby boomer women said they would likely shop with a brand that has a loyalty program. Brands should forge loyalty with consumers early as people brand hop as they age.
- Men and women have a greater interest in earning points for engagement. Men and women are more interested in earning loyalty points beyond spend and participating in activities such as tweeting about a company, reading an email, reaching a fitness goal, or writing a product review. Some 76.14% of women are interested in earning loyalty points for engagement compared to 58.03% in 2015. Meanwhile, 68.60% of men are interested in earning loyalty points for engagement compared to 50.78% in 2015. This rise in interest can be attributed to a greater number of brands offering engagement-based multichannel loyalty programs and the desire by consumers to do more with companies than earn points for spending.
- Women are stronger advocates than men. One fourth (25.05%) of women will share a post on social media to earn loyalty points compared to 14.92% of men. What’s more, 74.17% of women said they would refer a friend to a loyalty program that they participate in compared to 67.05% of men. Women are more social and more willing to share their experiences with friends and family.
- Men have a greater affinity for exclusive access over discounts and coupons. Men have different brand expectations for loyalty programs perks. Nearly half (46.51%) of the men surveyed ranked exclusive access (early access to a sale, first dibs on a new product launch, invitations to events, etc.) in a loyalty program as extremely high or high versus 40.31% of women. Meanwhile, 47.75% of women ranked having exclusive access to discount, coupons, and prices as extremely high or high versus 40.89% of men.
CrowdTwist surveyed 1,027 men and women in September 2016 to discover how men and women differ in their loyalty to brands, how they perceive loyalty programs, and how loyalty initiatives, rewards, and incentives impact their behavior. Respondents ranged in age from 18 to 71.
Source: CrowdTwist; edited by Richard Carufel