Re-defining Loyalty in the Digital Era
A study by Accenture showed that in today's day and age, 46% of customers are far more likely to change providers than they would have been 10 years previously. Nielsen found that up to 78% of people are not loyal to one specific brand. So are we really creatures of habit? We usually like what is familiar and known to us and most of us also pick the easy way out. Isn’t life just nicer that way? Customer loyalty in the digital age is subjective to a number of certain factors. Staying with brands we trust is what we choose to do. However, business is conducted digitally more and more. So switching from one brand to the other becomes simple.

Customers form relationships of mutual convenience. A site provides a customer with certain perks. Sometimes, personal details are saved in a site’s database so a customer need not enter the same information over and over again, like their full name or shipping address. The site may save a history of successful transactions or purchases for a customer’s reference. The site may also save a customer’s preferences and preferred selections. Hence, the buying process becomes easier for all these reasons and sometimes more. Further, digital loyalty programs may just be the key that unlocks the customer satisfaction treasure chest. Loyal customers are satisfied customers.

There are many paths to customer loyalty programs. The best way to tap millennials, is by engaging with them on social networks. A study by Elite Daily proves that this particular age group are 62% more likely to become loyal customers if they have better interactions on social platforms. However, as is evidenced first-hand, it is not simply the amount of engagement that improves loyalty but the quality of engagement that makes a difference. Personalised communication is the golden ticket. Make a sense of the data that you’ve been given. You need to also understand your target audience, and the people you’re attempting to communicate with. Gain insights about your target audience. Then there will be no holds barred to the kind of customer loyalty you could foster.

Customer satisfaction is an integral part of buying and selling. Preserve your customer base with some simple measures.

  • Offer 24x7 operations and technical support. It would be ideal if this could be done online.
  • Encourage customer reviews, as this will make customers feel like they're being heard and acknowledged.
  • Boost social media marketing. This will improve the overall image and popularity of your business.
  • Create and promote a referral rewards program. This encourages customers to spread the word about you. Take these small steps and make a great digital leap.

So, does digital loyalty translate into real loyalty? This is a pertinent question. There’s a pecking order even in the digital world and it’s not easy to remain at the top of that order. Garnering and retaining customer loyalty is an on-going process. One failed transaction could eclipse many successful transactions. However, if you continually strive to cultivate positive and constructive interactions that make customers want to frequent your digital business more and more, you’ve got the winning formula.