So if you're a marketer, just selling stuff to customers is enough to sustain the growth your company, right? Wrong. It's all about customer loyalty – repeating, returning customers who continue to value your brand. While this year, marketers seem to be doing well selling stuff, on the very important factor of customer loyalty, many are falling down.
This is a conclusion from Loyalty 360: The Loyalty Marketer’s Association, which says that businesses are reporting that retaining and engaging customers remains one of their greatest challenges. To companies overcome this challenge and develop more effective loyalty strategies, Loyalty 360 (News - Alert) is offering some insight into current customer loyalty trends.
It's more complex than it has ever been. Loyalty 360 says that loyalty is no longer about points, discounts, miles, rewards; it is about the way the processes, technologies, ideas, interactions engage an individual with the brand.
The focus needs to be placed on customer retention and loyalty as opposed to simple customer acquisition. This is where “deal of the day” businesses like Living Social and Groupon are failing.
Brands need to recognize customers at all possible touch points, especially the call center, to deliver a quality customer experience. Customer loyalty begins with a great customer experience, and ends quickly with a bad one…