Home BUSINESS Reinventing Customer Loyalty To Meet New Consumer Expectations

Reinventing Customer Loyalty To Meet New Consumer Expectations

Faced with increasingly volatile consumers, brands must offer more engaging experiences than ever. But building loyalty also involves displaying strong values or setting up committed offers. Explanations. Search for the lowest price, the fastest delivery, or even the offer that seems the most innovative. While the Internet makes it easier to compare brands, 38% of French consumers say they have tested the products or services of a new player, mainly attracted by the search for better value for money, according to the PayPal, Think Forward white paper Forever Customer 2022, download here.

According to the same source, this volatility goes further: worldwide, 60% of consumers say they give up on a brand after a bad experience, i.e., 22 points more than in 2021. Faced with this situation, brands are imaginatively competing to get their customers to join their loyalty program and thus try to maximize customer retention and customer acquisition: in the United States, 50% of consumers are more likely to recommend a brand if they have joined its loyalty program. In addition, 83% of consumers surveyed say that being a member of a loyalty program influences their decision to repeat purchases from the brand in question.

Enter Into A Service Process

So how can you offer the most suitable loyalty program? If the question of purchasing power is at the heart of the news, the simple lowest price no longer makes it possible to convert as quickly as before. Consumers are now looking for the best quality/price ratio and increasingly extend this notion of quality to the brand’s values or the services it offers. This is all the truest since, after the pandemic, during which brands were forced to engage, 61% of consumers worldwide say they expect better customer services than before. What services?

They must be adapted, relevant, and personalized. In this sense, loyalty programs have evolved in recent years towards relational programs, which use data to offer omnichannel services and access to communities of interest, knowledge sharing, and experiences that make these much more engaging than the simple possibility of reserving a product or accessing pre-sales. This is one of the keys to Tupperware’s success: in addition to being able to count on a community of very committed ambassadors, the brand offers, for example, a lifetime warranty on these products. Therefore, customers are likely to pay more for these products and buy more often from the brand.

Is The Subscription A New Basis Of Loyalty?

Personalization and omnichannel are also found in your loyal customers’ delivery and return options. They must be able to choose in real time the moment and the place to be delivered, but also to produce a parcel! We then emerge from a purely transactional relationship between the customer and the brand: the latter truly takes on its full role as a facilitator of daily life. A good example is that of the Camaïeu brand, which offers its customers the opportunity to exchange their jeans for free for another size to cope with changes in their weight.

All these services have a cost for the brands, so some decide to go further than the simple loyalty program to set up actual subscription offers. This choice was notably made by distributors such as Casino, Monoprix, or Carrefour, but also by players as diverse as the Irish hotel chain CitizenM or the Swiss sportswear brand On. These “win-win” agreements allow brands to generate new revenues and customers to enter into a classic but lasting contractual relationship from an additional reduction to the rental of products.

Also Read: The Importance Of Customer Loyalty For A Company

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