Beyond superior products and services, empowered consumers are now expecting even more from the brands that seek to gain customer loyalty. Marketers are constantly looking for new ways to promote customer engagement, and loyalty programs have often been used as a successful tactic.
Almost every consumer appreciates loyalty rewards on some level. But a new study by Cherry London, a collaborative marketing firm focused on leveraging insights to build brand partnerships, recently found that more women than men are likely to maintain brand loyalty after being sufficiently rewarded.
After questioning 1000 adults as part of Cherry London’s “month of Brand Love,” over two-thirds (68%) of women stated that earning a reward actually enticed them to maintain customer loyalty. Over half of men (53%) also said that a reward would prevent them from using a different product. 58% of all respondents, both men and women, said that they preferred that a brand be “heavily” invested in customer loyalty.
“If over two thirds of customers are saying rewarding their customer is so important when it comes to their loyalty, then brands really do need listen up,” said
Tamara Gillan, CEO and founder of Cherry London.
Brands are starting to notice that consumers are demanding more and more, but sufficient rewards are only the first step in building genuine customer loyalty. Beyond points or discounts or exclusive offers, customers are also craving real person-to-brand relationships that provide a personalized experience. People want to feel special, and brands that can make that happen have an edge.
“It’s a fact customers are more demanding and more informed than ever before. Rewards are a hugely important driver of brand loyalty,” Gillian said. “But it’s more than this: creating an emotional connection that matters to your audience is key to success in today’s tough marketing environment.”
Gillian went on to cite Vitality and North Face VIPeak has two excellent examples of loyalty programs that uphold this philosophy of developing strong customer connections.
“If you truly want to drive loyalty that matters, that lasts, then it’s about creating a powerful emotional connection between your brand – and that’s why rewards are so popular and powerful,” she said.