The idea of customer loyalty has long been associated with a consumer favoring a particular product, brand, or service. This loyalty is driven by positive experiences, perceived value, and satisfaction. Basically, you like something so you stick with it. But maybe we should start thinking about customer loyalty from the other side. Think about whether or not a company is loyal to you, the customer.
When to Reconsider Customer Loyalty
According to a study from Kitewheel, there is a disconnection between how customers and companies think about loyalty programs…
It seems brands and consumers are at complete odds when it comes to what these loyalty programs should be about. Specifically, a large majority (nearly three quarters) of consumers declared that loyalty programs should now be about how brands can show how loyal they are to them, as individual consumers. Any guess how the majority of marketing execs saw it? You guessed it. The majority (nearly 2/3) of marketers still believed that loyalty programs should be the other way around – a way for consumers to show the brand how loyal they are to them. In today’s “Age of the Customer,” you already know which side of this battle will win.
Companies may begin making more efforts to earn the loyalty of consumers by being loyal to them. Consumers could benefit by straying from any blind loyalty they currently have. Exploring the potential benefits of a brand that will work harder for them could be more beneficial. We see this already from companies that will send coupons and special offers. These get sent to previous customers, rewards members, or email subscribers. Also consider a company’s guarantees, warranties, and customer service.
There is a lot to be said about customer or brand loyalty. It’s a nice familiar relationship for both parties. However, take time to reconsider these ties every so often. This way you can spend your money wisely.