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Love – and loyalty -- is a two-way street. Just ask your customers.
According to a national survey conducted by Opinion Research Corp. and commissioned by Analytic Partners, customers want to be loved by the brands they love.
Nancy Smith, founder and CEO of Analytic Partners, said in a press release that the overarching survey theme was customers want to be loved by the brands they’re loyal to, adding “loyalty has become a two-way street.”
“No longer are the days when brands can advocate solely for themselves,” Smith said. “In fact, the way brands spend their marketing dollars to interact with their consumers can ultimately have a real impact on profitability."
Nearly half (48%) of people between the ages of 18-44 indicated that any loyalty they feel toward brands in the future will be because of the types of experiences brands create for them. Some of these experiences cited by survey respondents include interaction in the form of video/online gaming, social media, and third-party expert information through blogs and articles.
The survey, which involved 1,000 respondents, focused on shopping behaviors and expectations of American consumers who interact and purchase from brands regularly.
Consumers feel empowered to make purchases when they have the knowledge to make proper decisions. According to the survey results, well more than half (66%) of consumers are shopping online using mass market sites like Amazon.com and Walmart.com and show loyalty to the brands they buy (63%) on these sites.
What’s more, 75% of respondents said that the reviews they read online are a major factor in what purchases they make.
Gender and location do play a role in brand loyalty. Of those surveyed, female consumers (68%) are generally more loyal to brands than males (55%). Results also revealed that consumers living in the South are the most loyal to the brands they buy (67%), while those living on the West coast are the least loyal (56%).
The baby boomer generation (ages 49-67) care more than any other age demographic that brands should be transparent about how their products are made (80%), according to the survey.
"As ecommerce continues to grow in popularity, new methods for consumer interaction are becoming a must for brands that want to strengthen retention and loyalty efforts," Smith added. “Therefore, it's become increasingly important for brands to look at their data holistically to analyze and develop new ways to meet and exceed consumers' expectations.”
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