Customer Loyalty is often synonymous with loyalty schemes that offer rewards or discounts for repeat business but that can cheapen a brand rather than enhance its value.
Mature customer focussed organisations look to build loyalty through email marketing, personalisation and tailored product selections. However, they focus mainly on attracting repeat business rather than overall brand experience and, unless done well, can be seen as intrusive, spamming customers with ‘tailored offers’ whether they want them or not
This article from OracleVoice on Forbes explains why Customer Engagement and not Customer Loyalty is the new measure by which organisations measure how Customers value a brand.
What this proposes is that they key to Customer success and to real customer loyalty is determined by how much Customers are prepared to invest their own time (and dollars) in your brand.
Regardless of whether there is a sale for an organisation or if the Customer will get additional material value, if Customers are prepared to engage with an organisation to advocate products, share experiences or propose new features then they are sufficiently engaged and loyal. After all, most people would not want to risk their reputation by advocating a brand or product they don’t feel their friends will enjoy
Furthermore, by engaging in this way, organisations can analyse buying signals at a much more granular level and introduce the right content, messages and products at the right time
For example, a runner who has bought runners/sneakers/trainers (depending on your geo-slang) from you in the past and who is engaged on your forum discussing upcoming races in cold climates may welcome info on wind cheaters for such races.
It sounds simple, but organisations that engage with Customers in conversations, regardless of whats in it for them will learn a lot more about what and how to generate real customer loyalty and advocacy
After all, there is a reason we are born with two ears and one mouth (to paraphrase Epictetus)
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