Marketers strive for the holy grail of securing long lasting customer loyalty – but what does loyalty look like in 2021?
Even before the increased pace of digital transformation in the last two years took hold, attracting and retaining customers had already become increasingly difficult due to the behemoth’s such as amazon and supermarkets offering everything at such convenience.
With keener than most pricing, next-day delivery or same day pick up at no cost the compelling art of inertia has entrapped huge numbers of customers without them even realising.
One could argue, in these new times, that customer loyalty no longer exists and everyone is in a race to the bottom where the cheapest price and combined delivery fee is king!
But is that really the case? Yes, competition is fiercer than ever, and taking on the likes of amazon and eBay can feel intimidating for ecommerce and traditional brands but not all customers are solely driven by the lowest effort inertia.
And it is these people who are looking for more, perhaps looking for you!
Brands that do well are those that know their customers personally
The ability to offer personalised experiences is the key to keeping customers and encouraging them to become loyal. In fact, 80% of surveyed customers said experience is equally as important as product or service and 66% expect companies to understand their unique needs and expectations.
In a somewhat roundabout and ironic way, marketing automation and digital technology has evolved so much, especially through ai and machine learning, that brands can almost simulate that experience of yesteryear of going into the local village store.
Remember the days of being greeted with a friendly smile and chat from the shop owner who knows everything that you want and need? Maybe not, you may be blessed with being too young!
Let me explain; they’re on first name terms with you, know about your interests and hobbies and always asked about how the family are; whilst at the same time gathering your regular supplies and tempting you into trying something new based on your past purchasing behaviour or preferences.
This created customer loyalty. It was far more than a transaction of goods and money – it was a friendly face, a welcoming chat, a trusted person, a guide to new experiences, someone who made life a little bit easier because they knew you as an individual.
How to achieve customer loyalty through the use of customer data
Thanks to a single customer view you can achieve the one-to-one relationship by combining all sources of data you hold on a customer in one view with the aim of delivering multi-channel communications on a personal level.
To be the best you need to know the full 360 picture. This includes data such as:
- ⭕ Number of purchases
- ⭕ Frequency of purchases
- ⭕ Range of products purchased
- ⭕ Customer lifespan
- ⭕ Average order value
- ⭕ User generated content
- ⭕ Customer reviews
- ⭕ Email engagement metrics
- ⭕ Website engagement and behaviour
- ⭕ Returns data
- ⭕ Customer lifetime value
Tips on how you can drive customer loyalty
Here at RedEye, we’ve identified five core ideas that are essential to driving loyalty:
e.g. reliable and fast delivery services, a hassle free returns policy
e.g. a brand that stands for something and owns it completely by ignoring the distractions
e.g. back in stock and replenishment campaigns enabling customers to purchase without having to constantly check-in – or even worse forget altogether
e.g. location data, upsell recommendations, weather forecasts, loyalty points balances, complementary product blogs and videos – this list is literally endless!
e.g. listening back to customer feedback, actioning it, and telling them what you did. Reward offers such as reduced delivery rates, coupons or trial packs for products that complement a recent purchase, sneak peaks at new launches or exclusive member-only access events
Ready to learn more?
Watch our 25 minute on demand webinar on customer loyalty where James Ede, Head of Client Success and Adam Hosker, Senior Marketing Automation Specialist bring to life the above five core areas – and much more too!
Watch now by completing this form…