To maintain consumer loyalty, keep it simple. A new report, “2018 Loyalty Forecast,” released by personalization platform, Fresh Relevance in conjunction with YouGov confirmed that shoppers continue to patron retailers and brands that deliver personalized, purposeful interactions.
“Today’s consumers — namely Millennials and Gen X — have reached ‘peak stuff,’” said Mike Austin, cofounder and chief executive officer of Fresh Relevance. “Because they have everything they need and can access anything they want with the click of a button, shoppers quickly turn to a competitor if a retailer is difficult to do business with or treats them just like one in a crowd.”
To understand the current state of consumers’ priorities, Fresh Relevance tapped YouGov to survey 1,125 U.S. consumers during May this year.
The competition within the retail climate is heating up. And with that, brands and retailers are tasked with delivering services and experiences that resonate with consumers. A looming challenge, but surmountable when proper data collection and analysis are deployed. These tools will prove especially helpful to target consumers.
The research found that 28 percent of survey participants would be more loyal to a brand that sends tailored messages rather than blanket emails. What’s more, 41 percent of those polled said they likely wouldn’t shop with a retailer that frequently emails irrelevant information.
“Personalization is the secret to forging repeat, long-term relationships — the key to profitability. Effectively using customer data to build out a tailored marketing strategy around the four pillars of loyalty will ensure that shoppers feel valued and satisfied at every touch point — resulting in repeat, long-term customers,” Austin said.
But customized content isn’t enough for today’s consumers. In addition to specific messaging, shoppers value efficient and intuitive services. Specifically, shoppers opt to buy from retailers that provide free returns (69 percent) and free, two-day shipping (68 percent), the report said. What’s more, 65 percent of those polled said free UPS/FedEx/USPS return pick-ups are the most important to them when considering a retailer.
This dovetails with convenient e-commerce interfaces. “Consumers are demanding, with 60 percent saying they would stop buying from an online store if the web site was difficult to navigate. This ease-of-use is especially important to more than two-thirds (71 percent) of Baby Boomers (age 55+). Retailers would be remiss not to prioritize optimizing their e-commerce sites, as nearly half (46 percent) of respondents state that a frustrating online experience hurts their opinion of a brand overall,” the report said.
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