Customer loyalty and customer retention are fundamental for the success of most brands. As the marketplace continues to evolve due to social distancing and remote working, it’s critical to continue to understand the aspects of your business that are likely to impact a customer’s loyalty, especially as the recovery picks up speed. Brand marketers that commit to an ongoing and holistic understanding of the customer perceptions and touchpoints that influence loyalty will enjoy a competitive advantage and growth in the long run.
Brand marketers that commit to an ongoing and holistic understanding of the customer perceptions and touchpoints that influence loyalty will enjoy a competitive advantage and growth in the long run.”
To gauge loyalty, brands often conduct informal one-on-one conversations with their customers to understand their needs, and where they are falling short. This approach is relatively easy and quick, but it can result in biased information based on the questions that were asked, the customers chosen, and potentially their avoidance of providing negative feedback.
A more systematic approach to obtaining customer insights on the factors driving loyalty is critical during this time, and is constructed like this:
- The first step is to conduct structured one-on-one conversations led by a professional moderator with a small set of customers. This approach offers the benefits of informal one-on-ones while minimizing the potential bias in question design and customer sample.
- The foundational insights from these professionally structured one-on-ones can be used to conduct ongoing surveys to measure how your brand is performing in relation to expectations. With a constantly evolving marketplace like we’re in now, it may make sense to conduct these surveys on a quarterly basis.
Recently, a large healthcare provider discovered through this combination of one-on-ones and a broader survey which issues had shifted in influencing loyalty and what touchpoints needed updating to improve the brand’s relevancy with customers. Once these changes were made, the brand experienced an increase in overall loyalty scores.
Has your brand deepened its understanding of customer needs and loyalty influencers during this evolving marketplace? If not, contact us to discuss how to design a program to guide loyalty initiatives for both the near-term and long run.