Customer behaviour is rapidly changing, from the way consumers shop to how they interact with brands. The same goes for the customer loyalty landscape, as changing demands call for changing solutions. For this reason, businesses shouldn’t just rely on outdated customer loyalty programmes.
New technologies and the rise of a new generation of shoppers call for more evolved programmes that meet new expectations and shifting needs. So, whether customer loyalty is your focus, or you just want to update your current approach, here’s how to reshape your strategy for improved customer loyalty.
Remember – purchases don’t equal loyalty
It’s essential to differentiate loyalty from purchases. Today, it’s far more advantageous for customers to connect with brands that offer more than just discounts. If a customer has to pay to receive a benefit, the relationship will end up being transactional. This is not to say that point-focused customer loyalty reward programmes aren’t useful. You just need to build on them and find ways to reward customers for different types of interactions.
Your challenge: Make it personal
The new era has brought up contemporary consumer needs. Customers desire to be recognised. They want to share their opinions, be heard, and feel like they’re in control. That said, personalisation is key to making them feel special. For example, patrons of a brand can now design their own shoes and be running in them in four weeks. Consumers remain loyal to brands who know how to listen to them and engage with them to create better products and services.
Wide range of options in the market
When it comes to creating loyalty programmes, businesses have often been so focused on the programme itself that they forget the other meaningful aspects of loyalty, such as customer service. They treat their programmes as a magic solution to increase customer retention. But customer loyalty is more than just a quick fix. Business owners need to see the bigger picture and understand that customers can find and switch to a new brand after one negative experience. With more accessible information, customers have no problem leaving, as they have far more options than they did before.
Your challenge: Loyalty through experience
When reshaping your loyalty programme, look at all the aspects of the customer experience: marketing, customer service, and in-store experiences. A holistic approach can make for a loyalty programme that won’t give customers shoddy interactions with your service team. Also, more than just discount-focused rewards, elevating the client’s experience is crucial. Be open to experiential rewards. Give them VIP access to an event, a free trip you know they’d like, or anything that can heighten their senses—a unique experience that they can’t get anywhere else.
Rise of social media
From word-of-mouth-marketing, consumers can now share their thoughts about a brand through social media. This can significantly impact customer loyalty either positively or negatively, as online reviews have become part of the buying process.
Your challenge: Pay attention to the little details
When a person has a positive experience and decides to do business with your brand, they’ll be more likely to recommend your brand to their peers and influence the next set of consumers. As customer experiences have become highly shareable, the challenge is to pay attention to even the smallest of details. When a customer has an enquiry, respond promptly. If they have a problem, offer customer-centric solutions. Remember, your customers want to feel like you have thought of everything they need before they did. Every customer experience is an opportunity, so it’s your job to deliver five-star service that earns positive mentions on your social media feed.
Boost your loyalty programme with Bartercard
No amount of money can buy customer loyalty. It all boils down to providing excellent products and services as well as building valuable customer relations through meaningful experiences. With Bartercard, you can create a loyalty strategy that elevates the value of your brand, builds customer confidence, and enhances customer loyalty. To learn more, visit Bartercard today!