The expansion of social media and the rise of a shared economy means that marketers need to collaborate with customers. The brands that are successful today, simply do not broadcast but also engage. Companies need to rethink loyalty.
1. Experience at every stage:
The way people buy is getting complex. Most of the customers will tell you that it is less direct than before. Besides, the path to purchase differ by category shopped: age, gender and other variables, further complicating each category. To drive loyalty, brands need to provide experience at every chance and not just when they come in direct contact with marketing. Brands should concentrate on building relationships instead on marketing to drive loyalty metrics.
2. The shift:
Marketing has been closely tied to customer loyalty key performance indicators (KPIs). Legacy loyal metrics that are used to measure marketing success focus more on getting existing messages home rather than finding out what customers are looking for and understand what best suits the customer. The best way to utilize marketing teams is by getting them to drive innovation. The CMOs need to boost innovation and encourage brands to engage customers, gain a better understanding of their needs, and future demands. A move from broadcasting to collaboration is the shift which can enhance brand loyalty.
3. Everyone is responsible for the brand:
Data and trends show a decline in customer loyalty. Customers will never hesitate to move to whoever is offering the latest Groupon instead of going to a popular hotel. Consumers search for companies that are not only good for them, their own employees but also for society. Therefore, a new marketing campaign alone cannot solve the loyalty issue. The brand trust goes deeper than a great product, a good price, or a effective promotional strategy. To court the customers, the organization should know and elaborate the company’s unique value proposition.