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All loyalty marketers want to know the defining characteristics of effective and impactful customer loyalty.
To help our audience in that light, Loyalty360 will present a webinar titled, “CMO Challenge Report: The Defining Characteristics of Contemporary Customer Loyalty,” on Tuesday, Aug. 29, 2017, at 1 p.m. EDT.
Loyalty360 CEO and CMO Mark Johnson will be the webinar’s featured speaker and he will discuss the compelling report.
“New digital, mobile, and social technologies have empowered consumers to an unparalleled degree, which has effectively put the customer in control,” the report says. “Now it is the consumers, not the brands, who decide how, when, and where they want to engage with a product or a service. This has fundamentally changed the way brands think about and define the concept of customer loyalty. What was once largely defined simply as a consumer’s share of wallet has now grown into something much more nuanced and complex. Beyond just the amount of money one may spend with a brand, customer loyalty now means the ability to create meaningful experiences that can cultivate strong emotional connections and more. Customer loyalty appears to be going in this direction.”
Technologically and sociologically, most cultures are currently facing an enormous amount of disruption. As our world fundamentally changes, many of the established meanings and ideas that help to define our sense of place and purpose change as well. This is affecting the social construction of new individual beliefs, and even entire cultural ideologies. It is changing the way people perceive and interact with their environment and is creating an array of new behaviors, desires, and expectations. In many ways, it is also challenging many traditional notions that had previously defined our fundamental relationships with one another.
For those in the marketing industry, such changes are quickly becoming blatantly apparent. Across industry verticals, the effects of digital and technological transformation are changing the very definitions of what of it means to create successful customer engagement and build long-term loyalty.
To understand better how brands and marketing are currently defining customer loyalty, Loyalty360 posed the following question between December 2016 and March 2017: “Can you define customer loyalty for us? Or, what does customer loyalty mean to you or to your organization?”
Here are a couple of the responses from the report:
Virginie Glaenzer, EVP of Marketing, Great Eastern Energy: “Customer loyalty is the result of the customer engagement and it comes from a combination of positive emotional experience, satisfaction, and a perceived value of an experience. Those are the three things that create customer loyalty.”
Leena Munjal, SVP, Customer Experience and Integrated Retail, Sears Holdings: “We define loyalty as building lifelong relationships with our members. Our primary goal is to serve our members and help them manage their lives. This focus builds on Sears and Kmart’s decades-long legacy of helping families, while also recognizing that our mission today, and in the future, is to serve people directly through knowing them better as individuals and as families and personalizing information and experiences that are most relevant to them.”
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