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Reinventing customer loyalty

reinventing customer loyalty
 
Being an "Experience Business" means putting customers first. But what happens when your customers, their needs and wishes change constantly? Digitization is the driver of change - it empowers customers and gives them more choice than ever before. It follows that the concept of loyalty has also changed.
Companies can no longer rely solely on the strength of their products. True loyalty results from a comprehensive brand experience. First, companies need to create an experience. In November 2017 , Adobe published a study on this topic in collaboration with the Goldsmiths University of London.

 

A new framework for loyalty

The dimension "Selection":

Does the brand help me find the things I really need and want? Does the brand help me to find the things I want or need easily?

The dimension "Experience":

Do I enjoy the experience? Does it differentiate?

The dimension "prevalent":

Is the service available when and where I want it? Is it predominant?

The dimension "Predictive":

Does the experience adapt to my individual needs? Is it predictable?

Influence of new loyalty on companies

Although CMOs have always understood the need to measure loyalty. But now it's about a developing consumer who wants his purchases to reflect themselves and their expectations.
Seventy-five percent of CMOs disagreed or abstained on whether their companies in the aforementioned dimensions are well prepared for the new loyalty.

Activate new loyalty dimensions for the customer experience

Adapt to changing customers

Brands and companies in the study are advised to choose an emotional rather than a rational approach in their marketing.

Use a data-driven approach

Loyalty, trust and transparency are critical, especially in a data-driven approach. Ask the customers for approval and clarify the purpose for which you will use the data for their benefit.

Simplify discovery and purchase

Customers want things as fast as possible. Many companies spend a lot of time and money on the customer journey. This is very often recognized and valued by the customer.

Create meaningful experiences

As a general guideline, you can remember: A campaign must mean something. In this case, it is about the ability to surprise and please; this is more than pure "positioning". This will make customers remember you. Loyalty is not about the product, it's about how experiences make us feel or feel something special.

 
André Wehr
André Wehr
As a founder and entrepreneur, I experience every day how important Traction and Customer Centricity is. It makes the difference between a nice idea and a viable business.

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