With research by Harris revealing that 90% of consumers in receipt of a free gift would make a repeat purchase, more and more businesses are wanting to enhance their offering. So in such a competitive marketplace, how can your brand stand out from the crowd?
Savvy consumers expect more
Knowing your marketplace, your customers and your competitors is a vital tool in your armoury when positioning your brand. Consumers are savvier than ever and spend time researching the best brands, products, services and prices. Strong marketing and brand positioning will provide your business with the foundations to boost sales and strengthen your brand.
Today’s consumers know what they want and are looking for good value, however the solution is not as simple as a race to the bottom. Many businesses decide to lower their prices; offering discounts as an incentive for new customer acquisition and repeat business, however continuing to sell your products and services at a lower price and offering steeper discounts to outshine the competition will, over time, erode your margins and ultimately decrease brand value.
Maintaining your prices but providing an additional customer incentive can lead to increased sales without devaluing your product along the way. Consumers remember the added extras and are more likely to return because they perceive that you’ve not only provided added value, but have also improved their buying experience.
Such incentives could be in the form of a membership to the UK’s largest dining club, used to enhance your customers experience of your brand. After all, if your customers have an additional positive experience from a membership linked to your brand, they will positively associate this with your business, undoubtedly boosting its value. The more relevant and accessible the reward provided, the more your business will become a touchpoint of your customers daily lives.
Customer loyalty reflects your customer’s willingness to buy from you on repeat occasions. It is the direct result of a positive experience, satisfaction, and the value of the product or service your business delivers. Loyal customers are far more likely to convert, spend more and tell their family and friends about your business.
Building brand loyalty with consistent quality and strong marketing will yield long-term benefits for any business. Brand loyalty can be built across multiple marketing channels including digital, broadcast and print media, building followers and shares across platforms. A picture speaks a thousand words and, in this media-savvy society where everything flashes before our eyes at lightning speed, image is everything.
Creating loyalty with additional extras is a great way to stand out across multiple channels, hook customers in and make them feel valued. Today’s marketers have a bigger challenge than ever to ensure that the essence of their brand is captured and presented to all potential customers regardless of which channel they are influenced by. Showcasing your products and services across these channels and targeting consumers with a truly special offering ensures new customers are funnelled into your sales channel and existing customers are motivated to use and discuss your products and services.
Every business wants to generate loyal customers, often through loyalty reward schemes, but choosing the voucher or cashback route to surprise and delight can be quickly forgotten. An easy way for your business to remain a positive touchpoint of your customers’ daily lives is to provide an always-on reward that caters to your customer base.
Curiosity killed the competition
Consumers across all industries are driven by curiosity. Businesses embracing a surprise and delight approach to their loyalty scheme ensure their brand remains memorable to their customers. Offering a reward that falls seamlessly into their everyday lives encourages customers to form an emotional attachment to your company, even if the reward is provided through a third party.
In today’s fast-paced society, these consumers also demand convenience. Ensuring your rewards are relevant and omnichannel-capable gives your customers the freedom to interact with your brand through any device or channel, any time of day. The more they engage with your brand, the more your customers become part of your business.
Michael Kalli, Commercial Director at The Dining Club Group comments:
“Showing that you understand your customers and value your relationship is the key to unlocking brand loyalty. One of the easiest ways to achieve this is to provide rewards and incentives that are relevant to your customer base and fit seamlessly into their day-to-day lives. Our dining memberships are available year-round and cater to all types of consumers; from young families and busy professionals through to empty nesters looking to experience more from life.”
To learn more about how our dining schemes could support your business with customer loyalty, please fill out our contact form, email firstname.lastname@example.org or call 0800 304 7337.