On Wooing Disloyal Valentines (AKA ‘Consumers’)
The coffee date is no longer a commitment-phobic trope. Instead, digital-age daters view it as the qualifying round for a possible relationship involving some real investment. To that end, Accenture Strategy finds the language of loyalty is changing for marketers.
Consumers don’t want to launch immediately into mediocre relationships, according to the research released on Valentine’s Day. “The traditional ‘low price’ and ‘reliable service’ ” won’t do to hold consumer interest, says Robert Wollan, senior managing director, global lead of advanced customer strategy at Accenture Strategy.
Rather, a low-cost entry point — think a Google search showing “Smoked Butterscotch” as the “starbucks no commitment latte” — accompanied by sparks of chemistry and flashing lights can result in much higher loyalty and monetary investment down the road, according to the Accenture Strategy report, “Seeing Beyond the Loyalty Illusion: It’s Time You Invest More Wisely.”
To get the chemistry going, marketers need to speak consumers’ language, Accenture says. Here are the “five languages of loyalty which are driving customer relationships in the digital age, particularly among U.S. Millennials”:
- Tokens of Affection: 59 percent of U.S. consumers feel loyal to brands that present them with small tokens of affection, such as personalized discounts, gift cards and special offers to reward their loyalty. [Author’s note: Seems a bit like the old-timey relationship, no? But more personalized.]
- Get to Know Me: 41 percent of U.S. consumers are loyal to brands that offer them the opportunity to personalize products to create something that is bespoke to them. Fifty-one percent are loyal to brands that interact with them through their preferred channels of communication. Eighty-one percent feel loyal to brands that are there when they need them, but otherwise respect their time and leave them alone. Furthermore, 85 percent are loyal to brands that safeguard and protect the privacy of their personal information.
- Thrill-seeker: 44 percent of U.S. consumers are loyal to brands that actively engage them to help design or co-create products or services. Forty-one percent are loyal to organizations that present them with new experiences, products or services. Furthermore, 33 percent are loyal to brands that engage them in “multi-sensory” experiences, using new technologies — such as virtual reality or augmented reality.
- If You Like It, I Like It: 23 percent of U.S. consumers are loyal to brands that partner with celebrities, and another 23 percent feel loyal to organizations that partner with social influencers, such as bloggers and vloggers. Forty-two percent are loyal to brands that their family and friends do business with. Furthermore, 37 percent show loyalty to brands that actively support shared causes, such as charities or public campaigns.
- Hook Me Up: 39 percent of U.S. consumers feel loyal to brands that connect them with other providers, giving them the ability to exchange loyalty points or rewards. Likewise, 51 percent are loyal to brands that keep them on the cutting-edge by consistently offering the latest products and services.
What do you think, marketers? Is this the right language of loyalty in the digital age?
Please respond in the comments section below.