How Loyal Are Your Customers?
Standing out in a world of choice isn’t easy. Earning consumer devotion to a brand or store takes more than just offering a good product. Price, packaging, customer service and reputation are just some of the factors involved in a consumer’s decision-making process. That’s why getting to the heart of what makes a consumer stick or switch can be the difference between flourishing and fading. While Nielsen research shows that bigger rewards generally inspire higher loyalty levels, loyalty programs are no guarantee of loyal behaviors.
How do you turn a fickle fan into a faithful follower? You start by understanding the needs and motivations that drive their purchase decisions. And then you deploy the strategies and tactics that deliver the most value. This global study outlines the reasons why consumers switch brands, service providers or retailers and identifies the loyalty program attributes that potentially have the most staying power.