Heather Murphy, owner of Brand Mission, talks about how customer loyalty is more important than ever, due to a change in spending habits.
Milton Keynes has over 14,000 businesses making competition fierce for many industries – and a recent study revealed 61% of consumers have changed their spending since Covid-19*, making customer loyalty more important than ever.
Growing loyalty from customers in the right way will achieve lifetime value but understanding the best approach can be a challenge – particularly when business owners are running the day-to-day operation, which is where working with an agency can help.
Brands will have learnt how to adapt during the pandemic and, with the full re-opening of the consumer industry underway, it’s important organisations continue to make adaptions to meet the needs of their consumers and business model as normality unfolds.
Acquiring new customers can be challenging enough, but gaining loyalty will bring bigger rewards so this should form an important part of any marketing plan.
Organisations benefit from working with creative agencies as marketing experts will spend time assessing, researching and developing carefully thought-out and unique loyalty schemes.
Developing meaningful engagement and offering rewards to customers will lead to long-lasting loyalty.
It’s key to ensure the rewards are appropriate, attractive to the customer and also viable to manage as a business.
Not all loyalty is built on schemes and dangling carrots, often it’s about creating an experience that builds an emotional bond between the consumer and business.
Word of mouth remains the most powerful and effective marketing tool so businesses should ensure that each customer receives a positive experience at every interaction with a human approach and encourage reviews where possible.
Need some support to devise a plan to attract new customers and gain long-term loyalty?
Brand Mission has over 9 years of experience in consumer marketing & PR across multiple industries and can help shape short and long-term marketing plans.
*Source: McKinsey & Company – UK consumer sentiment during the coronavirus crisis