Live Nation Entertainment, the world's leading live entertainment company, has released its latest Fan Insights Study,' Driving Loyalty', which shows the true impact of live music on building brand loyalty and finds that New Zealanders are the most engaged consumer group worldwide.
Collating responses from consumers aged 18-54, the study reveals that New Zealand significantly over indexes loyalty memberships, ranking as one of the most engaged consumer groups in the world when it comes to brand loyalty programmes. Currently, 91 percent are members of a retail loyalty programme, followed by 59 percent in fast food, with 1 in 3 redeeming rewards on a weekly basis. This is closely followed by 57 percent in clothing apparel and 55 percent in travel.
Most Engaged Consumer Groups - based on the study, 78 percent of New Zealanders would sign up for a new brand loyalty programme offering live music perks and discounted tickets. The most sought-after among Gen Z, are "comfort" VIP experiences, important among the older millennial and Gen X generations. Over half of all people state that they would likely switch to a loyalty programme that offers live music perks. They said that it makes a brand more innovative and relevant to their lifestyle, with 63 percent intending to spend more money with brands that offer live music perks.
”OVER 3 IN 4 NEW ZEALANDERS WOULD SIGN UP FOR A LOYALTY PROGRAMME WITH LIVE MUSIC PERKS”
"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 programmes,” said Frances Deighton, Strategy Lead, Partnerships at Live Nation Entertainment.
“You always remember 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 percent of music fans claim that live music events are home to some of their most memorable moments, with two-thirds connecting their emotions with the brands, products, and services they interact with at an event. As a leading passion point among New Zealanders, the demand for live music has reached new heights, with Live Nation reporting record ticket sales for 2022-2023.
"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,” said Kristy Rosser, SVP of Marketing Solutions and Client Services for Live Nation ANZ.
“Introducing music perks into a loyalty programme 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."
Other key insights uncovered by the 'Driving Loyalty' Study include:
- 77 percent said that belonging to a loyalty programme makes them feel valued by a company.
- 94 percent agree belonging to a loyalty programme makes them feel like they're saving money.
- Retail ranks highest regarding openness, sign-up, and likelihood of switching loyalty programmes.
- 2 in 3 live music goers are open to signing up for a new loyalty programme at a live event.
- A points system is the preferred structure for loyalty programmes. Email is highlighted as the preferred communication method, followed by apps and websites.
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