Customer given, data driven
Competition for customers is intensifying. Perfecting the moments that matter in your customer experience communicates the value of the relationship and earns their loyalty.
Winning a new customer is only the start. The next step is to secure their loyalty with a customer experience that anticipates and exceeds their needs, turning them into an advocate for your brand. The trouble is that intense competition, combined with an increased willingness among consumers to try new offerings, means that earning customers’ loyalty is tougher than ever.
Research published in December 2021 confirmed what businesses may already have suspected: 60% of US consumers developed new purchasing habits during the pandemic. For nearly half, this included trying a new retailer or brand. And for more than one in three, it meant trying out a new digital channel. Now, with the cost of living crisis weighing on consumer spending, competition for customers online is intensifying.
In September 2022, the UK’s Data and Marketing Association found that 41% of consumers felt less loyal to brands than they did a year before. Unless they have the lowest prices, businesses will need to earn and keep their customers’ loyalty in other ways.