Wavering Brand Loyalty: A Challenge or an Opportunity?

Today’s consumers are highly opportunistic - and why wouldn’t they be? Thanks to the digital era we’re in, consumers have all the tools they need to do their own in-depth research regarding items, price points, deals and more on their fingertips. Not to mention, modern customers are highly protective of their data - so good luck getting information off them!?

Consumers want the best selection. And diversity. And delivery. And installment plans. And creativity. And innovation. And sustainability. And ethics. And high kept values. That’s not where it ends - so you can imagine how it’s bound to be a hefty weight to lift for any brand. Even after all of this, there’s no guarantee you’ll have their loyalty

Cheetah Digital’s 2022 Digital Consumer Trends Index is in - and here are some eye-opening stats regarding consumer loyalty.?

Habits vs Loyalty:

70% of UK customers frequent the same purchases - but have stated they aren’t necessarily attached to the company. It’s simply a habit - one that’s been set in stone and cannot be shaken. It’s all about being in the right place at the right place. Study your target audience and embed yourself in their routines, rather than making them come to you.

It’s 2022, modern customers pick comfort and convenience over exaggerated marketing tactics.

Product vs Trust:

110%. That’s the year on year increase in your consumer base if you’re able to actively understand individuals. Conscious consumerism has led people to proactively educate themselves regarding a brand’s corporate, ethical and environmental values. Investments in these areas are likely to build immense trust - and that’s ultimately going to be a winning factor in the long run.?

Acquisition vs Retention:

In case you were stuck in the 2010’s, simply selling a product doesn’t guarantee you a loyal customer. It’s all about the experience now, and 40% of consumers have stated they would stick by the brand if they were able to get an extra value out of it. Build up the journey - look up exactly how they would approach you, what your customers' needs are, and how you can stay in touch with them after the final purchase. A few successful options include:?

1. Personalized Deals
2. Bundle Discounts
3. Loyalty Programs
4. Points Systems
5. Contests
6. Community Features
7. Exclusive/Early Access
8. Lifetime Customer Service

You can’t simply be transactional anymore. It’s time to think out of the box for holistic consumer journeys that are just too difficult to reject. Don’t forget, retention is always cheaper than acquisition - so give your current consumers an experience that they can’t help but market for you!