The benefits that an effective brand loyalty strategy can have on customer retention are hardly a secret. The two compliment each other in a way that, if done well, provides the foundations for successful growth and businesses of any size. But whilst brand loyalty is hardly an unfamiliar concept, the evolving landscape of customer loyalty has changed the ways the businesses can leverage brand loyalty to grow their customer base.
Brand Loyalty in the digital age requires more a personal & unique relationship between business owners and customers in order to make sure your business is able to stand out from the swarm of competitors online, not to mention on the high street. The prospect of finding a solution to brand loyalty that provides this unique experience to each customer can sound daunting, but actually there are a number of simple ways to create this type of experience.
There are a few tools at your disposal to help create this: social media, personalised interactions, emails or special offers based around dates (e.g Birthdays etc), but for now, we're going to focus specifically on one useful tool, loyalty programmes.
Using Digital Loyalty to create the personalised customer experience
Let's take an area that we at Onify are familiar with, digital loyalty schemes. These provide the ideal tool for getting customers to engage with your brand, encouraging them to collect points, make purchases & earn rewards at your store. Not only that, but they also provide another channel for customer interaction on the one device where it can often be tricky to reach them, their smartphones. These provide the missing link that traditional loyalty cards failed to produce, a means for connecting with your customer base on a personal level once they've left the store, whilst also showing the customer that you care enough about their repeat custom to reward them for it.
After all, customer loyalty is a two-way street. As much as you don't want to lose track of your customers, they want to feel as valued & connected as possible to your brand & business. This is where digital loyalty steps in, working as the tool that provides the connection between your business and a customer. With this, every customer who joins your loyalty scheme is now constantly engaged with your brand, connected on their own personal journey to collect rewards in your business. Not only this, but customers who consider a personalised experience to be a key part of their interest in a brand are 10 times more likely to become one of a brands most valuable customers!
Interestingly, publications that have discussed the decline of brand loyalty as a tool for businesses, still suggest that loyalty programs work as an effective strategy for creating repeat purchases, showing the strength that they have in getting customers to engage with your brand.
Brand loyalty still has a major role to play in driving your returning customer base and, ultimately, increasing your sales. Just remember that whatever method you choose for increasing your brand loyalty, keeping it personal will go a long way.