Do you think that the most important factor for the success of a business is closing sales? Not exactly… there are many who at the beginning of their career manage to awaken the interest of their target audience with good launch offers or an attractive product, which translates into numerous sales, but then they do not keep up the pace and fall into oblivion. The reason for this resounding drop lies in the lack of loyalty, either due to not taking into account this very important stage of the sales cycle, or due to not executing the appropriate strategies.
If you have reached this post it is because you are interested in delving deeper into this aspect and we are going to help you by explaining how to develop five very effective loyalty strategies.
The trick is to turn your brand into a love brand
The best loyalty strategies do not consist of discounts or gifts, because all these types of temporary actions will only make your customers see you as a brand to turn to when they do not want to spend too much budget. However, when you manage to add value to your company’s name, things change, you have control; and it is the public who is willing to pay whatever it takes to own the product. Of course… brands are not just products… when we talk about love brand we are referring to intangible values, premium quality, exquisite customer service and a differentiating design.
Surely after reading this some love brand has come to mind. Would you like to know more about them and their loyalty strategies? Keep reading!
What do the most charismatic love brands in the world have in common?
Just like in human relationships, the feelings we process toward brands mature and evolve. Our tastes and scales of values change according to age, historical and cultural context, so making only a ranking of the most beloved brands in the world does not make much sense. What is more sensible is to compare the factors that make some brands leaders, reducing them to a framework delimited by Western traits.
Previously, the brands best viewed by consumers were Harley Davidson or McDonald’s, but today, they are no longer so, because society has inverted its scale of values. Now we focus more on the responsibility that companies assume with their environment, on the experience that the entire purchasing process brings us, on the quality of raw materials, on authenticity, innovation and personalization.
Now that you know what a love brand is, let’s see what the 5 loyalty strategies they use the most are
Once brands have managed to define and transmit their core values, it is time to make them tangible with concrete actions that reward and benefit the most devoted customers. Don’t miss out on the following five loyalty strategies! We already told you that they have nothing to do with offering discount coupons.
- Artificial intelligence and machine learning: They use AI and machine learning to analyze large data sets and obtain valuable information about customer behavior, analyze market trends and opportunities for improvement in products and processes.
- Circular economy: they adopt business models that minimize waste and maximize reuse, recycling and resource reduction, and they also communicate this. Not only is this beneficial for the environment, but it can also drive operational efficiencies and attract sustainability-conscious consumers.
- Data-Driven Customer Experience: Uses advanced data and analytics to personalize and improve the customer experience across all touchpoints. This includes personalizing products and services, as well as optimizing online and offline interaction.
- Strategic collaborations: They seek partnerships with other companies, even those outside their industry, to create innovative solutions. These collaborations can generate synergies and open new market opportunities.
- Co-creation with customers: They invite customers to participate in the product or service development process. This allows companies to get ideas directly from those who will use their products and ensures better alignment with market needs.
It is not only the “what”, but the “where”: Social networks are the best channel to implement your loyalty actions
According to Brand Love Report 2022, a study conducted by Hootsuite and Talkwalker, the leading international social media analytics tools, social networks are the most immediate way to connect with consumers.
Thanks to the fun, emotional or useful content that brands generate and disseminate through their profiles, they manage to gain followers and engagement, which allows them to maintain constant and two-way communication with potential customers.
For example, there are KPIs in social networks with which you can measure the degree of user loyalty, such as reactions to publications, shares, whether they open private chats interested in the brand, whether they view your advertising or whether They usually buy through social networks.
Do you want to know more about new trends in marketing and sales? Stay reading the Educa.Pro blog with us!