The New Customer-Driven Economy
We are witnessing an amazing acceleration of new products, services, and delivery methods. Many companies and even entire industries have been radically affected (think Department Stores, RIM Blackberry, Kodak, Blockbuster, and many others). There are new rules, principles, and ways of working for success in the customer-driven economy.
https://customerthink.com/10-essentials-for-survival-in-the-customer-driven-economy/
Genuine customer feedback creates opportunities for companies to earn more loyal customers, those who know that they can speak out about their problems and that they will be addressed.
https://www.providesupport.com/blog/3-ways-to-collect-a-more-genuine-customer-feedback/
When it comes to bolstering consumer relationships, loyalty is often the first phrase that comes to mind. The ultimate building block, however, lies in brand affinity, or the emotional connection consumers have towards their favorite brands. When properly leveraged, affinity can help deepen consumer engagement and inspire long-lasting loyalty.
Increasingly, the brands that best resonate with consumers are those that create exemplary experiences—prioritizing personalization, meaningful rewards and seamless interactions. In a crowded marketing landscape, these trends are essential in setting brands apart and igniting brand affinity. A recent survey of consumers around the brands they purchase from most frequently, honed in on what brand affinity looks like, the factors that strengthen consumer ties, and how others can create experiences that move the needle.
Here are three ways to build brand affinity:
https://www.chiefmarketer.com/3-ways-ignite-brand-affinity-build-loyalty/
Gamification is not a new concept for marketers. As a kid, I remember buying a certain product just to add to my superhero action figure collection! We may call that old-school gamification. Although times and avenues have changed, marketers have implemented the same technique in the online context to achieve an organization’s marketing goals. The goals could be to speed up product adoption (onboarding), boost customer loyalty, or bring in new leads.
Gamification is an application of gaming mechanics in a non-gaming context. It offers users an engaging way to interact with your brand. Speaking from a scientific perspective, gamification works because of the reward-seeking behavior prevalent in the human brain. Our brain releases dopamine - a feel-good chemical whenever we experience pleasure. And as creatures of habits, we feel sheer pleasure when we indulge in a habit. And that’s when our brain releases dopamine, encouraging us to engage in that activity over and over. Gamification borrows from this concept by rewarding users for completing certain tasks.
Let’s look at 5 practical ideas to introduce gamification to your marketing strategy.
https://www.martechadvisor.com/articles/customer-experience-2/5-practical-ideas-to-gamify-your-marketing-strategy/
Are you struggling with customer retention? Maybe looking for a way to improve customer loyalty?
Establishing a good relationship with customers can be difficult, especially for car dealers, when generalizations and stereotypes tell customers to be leery of anything you say.
Here are 10 ways you can reverse these stereotypes and strengthen your relationship with customers.
http://www.dealermarketing.com/a-10-step-customer-retention-primer/
Looking at customer experience (CX) and churn in the SaaS environment from a high level, there’s one theme that stands out from the mix: The fact that we live in what’s called a “switching economy.” The term, coined by economists, describes a current trend impacting switching brands because of dissatisfaction with their experience. It can be a major driver of customer churn—and it’s already creating an incredible economic deficit in the US.
Early reports indicate that more than $1.6 trillion in revenue is up for grabs as “always on” consumers look for brands mastering CX via various channels and touchpoints. What’s more: since 2010, Accenture data shows the switching economy has increased more than 29%—and only 11% of U.S. customers strongly agree that companies are effectively converging their omnichannel experiences. So, what’s driving the switching economy? And how can businesses win back customer loyalty?
https://www.business2community.com/strategy/acing-omnichannel-support-in-saas-02098386/
Within convenience and fuel retail, ensuring customers are catered to is crucial for survival. But how can a convenience or fuel retailer implement a successful customer-first digital commerce strategy? Learning more about the current landscape can help operators get a better perspective on how to overcome challenges related to customer loyalty.
http://www.cspdailynews.com/industry-news-analysis/technology/articles/adopting-customer-first-digital-strategy/
The digital transformation is upon us: a movement that is drastically reshaping the way organisations operate and how they deliver value to their customers. So what does this mean for organisations that still operate in a traditional manner? What kinds of hurdles will these organisations face and how can they adapt? Let’s take a look....
https://mopinion.com/how-digital-is-paving-its-way-into-traditional-voc-programmes/
Customer Success is typically defined as, “ensuring customers achieve their desired outcomes while using your product or service.” If you’re relying on this explicit definition to drive retention and expansion then you’re missing a better opportunity.
The key to scalably accelerating profitable growth is by creating truly loyal customers. And the shortest path to true loyalty is by demonstrating that the people within your company are listening. Here’s why that’s true and how to make this critical, emotional connection with your key customer contacts to strengthen relationships and drive true loyalty.
https://www.business2community.com/customer-experience/are-you-making-this-critical-connection-with-your-customers-to-strengthen-relationships-and-drive-loyalty-02103339/
Customer loyalty is still looked upon as a holy grail in customer relationship management and marketing. We want loyal customers as they don’t just have a strong connection with our company and buy more, sometimes even willing to pay a premium, but also because they are prone to become true brand advocates.
https://www.i-scoop.eu/customer-experience/customer-loyalty/
