The spending power of Gen Z and Millennials combined with the increasingly saturated retail market has made attracting repeat customers an interesting challenge for companies of all sizes. Compose[d] conducted a research survey to unearth loyalty leanings and triggers among both Gen Z and Millennial consumers.
In today’s revolutionary social climate, a growing segment of consumers is deciding which brands deserve their dollars based on the values they demonstrate as a company. That said, do those in the market for a new car or new beauty products care as much about a brand’s value alignment as those looking to switch banks?
Relying solely on data collected by traditional CRM systems is a thing of the past.
Today, a brand is the sum of people’s lived experiences with the brand, and loyalty is an outcome of great customer experience.
Customers these days demand quick interaction via the channel of their choice. But how can companies transform their businesses to become centers of customer experience (CX) excellence when there are so many moving parts and uncomfortable levels of economic uncertainty? The answer is – they can’t afford not to.
It’s important that we acknowledge the marketing landscape is forever changed with the global events of the last six months.
This “new normal” has changed the way we act and the things we believe, including what we will do in the future to support our local economies and the brands we care about. How do we, as marketers, adjust to these changes? I think, as always, we need to first revisit the buying persona.
Use this time to engage in conversations and listen to the consumers who are active. Your outreach right now should be focused on community and solidarity rather than transaction. This starts with a great product or service, of course, but what truly builds that kind of brand loyalty is connection.
Online reviews and mentions on social media are essential for marketers.