How to Create The Experiences Customers Want in 2020

With 2020 underway, brands are searching for the best strategies
to drive consumer loyalty. In a time where this is becoming harder
and harder to attain, brands need to figure out how to stand out
from the competition and add value to the relationship.

To make it easier, CrowdTwist conducted
research
 into what makes customers loyal, how to engage
customers beyond the purchase, and how to design loyalty programs
that help drive better customer experiences. Here are the main
takeaways:

Make customers feel valued through loyalty

To stand out from the competition, brands must create meaningful
relationships with consumers at every interaction. One way to do
this is by offering an engaging loyalty program. Our research finds
that 71% of people are active in at least one loyalty program a
month. And, 62% of consumers could be persuaded to choose one brand
over another due to the presence of a loyalty program. 

By providing consumers with the opportunity to join a loyalty
program, brands can gain an advantage over competitors by adding
value and staying top of mind. By leveraging the data collected
within a loyalty program, brands can continue to evolve and
optimize their program and drive member participation. 

Design an impactful loyalty program

Loyalty programs should offer meaningful ways for consumers to
engage with the brand while offering member-only perks and
providing attainable, relevant, and compelling rewards. 

Incentivizing members to complete engagement activities is a
great way to deepen the customer relationship while encouraging
them to advocate for your brand. One great way to attract new
customers to your brand is to tap into the influence of your best
customers and reward them for writing reviews or making referrals.
Our research finds that 72% of consumers are willing to write
reviews and refer their friends to earn points in a loyalty
program. 

Create omnichannel shopping experiences

Successful loyalty programs enable brands to recognize members
wherever and however they prefer to shop with the brand. Our
research shows that while 64% of consumers prefer to shop online,
48% also enjoy shopping in-store. This demonstrates how important
it is for brands to create seamless brand experiences
across all channels
and recognize and reward consumers for
every purchase they make. 

By understanding where your customers engage and shop with your
brand, you can provide more meaningful and relevant experiences for
them. Understanding your customers’ behaviors and preferences help
determine where to add value. For example, for consumers who prefer
to shop online most of the time, it may be most valuable to offer
them free shipping, while those who shop in-store might prefer a
payless shopping experience. 

Capture insights to increase personalization

One of the most valuable outputs of loyalty programs is the data
that brands can extract from them. If applied effectively, this
data can be used to power
personalized experiences
for consumers. Loyalty program data
not only gives brands valuable insights into what customers want
and where they purchase and engage, but it can also help brands
determine where to allocate their budget and focus their
strategies. 

When a consumer shares information with a brand as part of a
loyalty program, they expect a
degree of personalization
in return. Our research finds that
55% of consumers want to receive personalized recommendations,
however, only 37% have purchased something that was recommended to
them by a brand in the past 6 months. Successful personalization
remains a challenge for brands, and often the cause is determining
the data necessary to drive powerful personalized experiences and
collecting and applying that data effectively. 

Our research finds that consumers are willing to share
information with brands in exchange for the perks and rewards of
being a loyalty member. Over 80% of the consumers we surveyed say
they are willing to fill out a survey. Encouraging consumers to
provide feedback through surveys and reviews, for example, presents
a tremendous opportunity for brands to collect rich opt-in data.
This data can then be applied to create meaningful experiences and
relevant recommendations. 

Furthermore, our research shows that customers are more willing
than ever to engage with brands in exchange for valuable
experiences. Investing in loyalty strategies provides brands with
the opportunity to add value to the customer relationship, build
personalized connections through the use of data and engagement,
and set themselves apart from the competition.

                                                              

Marketers should always be looking at data to better inform
their campaigns, and a customer data platform is a valuable tool in
that regard. Find out how “Do
More with Customer Data Platforms
.”

 

Source: FS – Marketing 3
How to Create The Experiences Customers Want in 2020