Many companies focus their marketing efforts on attracting potential customers and creating widespread brand awareness. However, upholding customer loyalty is an approach that’s just as crucial to the growth and success of your business.
Research has found that businesses have a 60% to 70% chance of selling their products or services to an existing client, compared to only 5% when selling to a new one. This statistic illustrates the importance of brand loyalty in improving a company’s profitability and bottom line.
As we celebrate Customer Loyalty Month this April, we’ll look at some of the different ways brands can retain more loyal customers and show them that they value their repeat business. Let’s dive into the latest and most fascinating 2022 trends!
Top 5 Customer Loyalty Trends You Need to Know in 2022
On the Gamification of Customer Reward Programs
In 1981, American Airlines was one of the first companies to incorporate gamification techniques into their customer loyalty program, dramatically improving customer engagement and satisfaction. Gamification reinforces the value of a brand for a customer and increases loyalty by unlocking rewards and milestones for them every time they interact with your business.
With new technological advancements being introduced day after day, companies can now further enhance the gamification of their rewards programs. According to data shared by Forbes, brands that create personalized digital experiences for customers increase their revenue by 6% to 10%.
Read More: Your Guide to Technology in Outsourcing: 5 Tech-Driven Trends Redefining the BPO Industry in 2022
On Omnichannel Customer RewardsÂ
Thanks to advancements in digitization, today’s brands have so many platforms to reach customers, from websites to emails to social media. However, today’s consumers are also more discerning and value-seeking, demanding consistency in brand messaging across all platforms and channels. This is why crafting an omnichannel rewards program can be vital to enhancing customer loyalty.
Since consumers engage with your brand through various platforms, devices, and channels, an omnichannel customer rewards program can create a seamless, more integrated experience for your valued customers. Whether they’re using a mobile app or browsing your website on a desktop, you can allow instant access, provide streamlined processes, and send them personalized recommendations or deals.
On Encouraging Emotional Engagement Through Customer Loyalty Programs
The COVID-19 crisis affected consumers’ financial outlook, capabilities, and emotional well-being. One CDC study found that there has been a significant increase in symptoms of anxiety and depression among American adults during the pandemic. As a brand, showing that you understand and care about your clients’ emotional and mental health can help foster customer loyalty and satisfaction.
Encourage emotional engagement in your customer loyalty programs by sharing joy-evoking, empathetic, and creative content. Use community-building strategies and emotion-focused campaigns and messaging to get customers invested in your brand, then incorporate emotion-focused KPIs to track customer satisfaction.
On Having an Online Community to Improve Brand Loyalty
Businesses that want to invest in customer loyalty should not overlook the importance of having online customer communities. Ideally, an online community centered on your brand can be where customers can interact with one another, leave honest reviews and feedback, access exclusive and relevant content, and reach your customer service representatives quickly and easily.
Online communities improve customer retention because of the inherent value of offering exclusive content, promotions, or deals. In addition, they allow customers to meet others who feel similarly loyal and connected to your brand, further strengthening their emotional connection.
On Highlighting Social Responsibility Initiatives
In the past, customers prioritized price or convenience regarding the brands they chose to do business with. Nowadays, consumers have become more value and belief-driven, wanting their favorite brands to express social responsibility in their marketing and business decisions.
One study found that values-based communication is just as effective as product or service-based marketing when driving customers to interact with and purchase from a company. An example of a brand that highlighted its social responsibility campaigns to improve customer loyalty is Starbucks, which has taken a stand supporting same-sex marriage and helping young people afford a college education.
Improve Loyalty Through Customer Service Outsourcing
Now that you’re all caught up on the latest customer loyalty trends, let’s talk about one timeless strategy that fosters client retention and satisfaction: Good customer service.
That’s right. No matter the changing trends and market conditions, customer service continues to be a constant competitive advantage for companies that want to attract and retain loyal customers. And one sure-fire way to make sure that your clients are getting the 24/7 quality service they deserve is through customer service outsourcing.
At SuperStaff, we are committed to helping you provide the best possible experience for your valued clients. Through our customer service outsourcing solutions, we can provide value-added services that help you engage customers and grow your business. Contact us today, and let’s discuss what our outsourcing solutions can do for you!
