Analysts and market leaders agree that implementing a customer-first strategy that involves every aspect of the organization is the wave of the future for delivering on the ever-evolving customer experience. Yet creating a customer obsessed organization will mean something a little different for every business. At its core though, it requires brands to gain a better understanding of their customers and what’s important in their lives.
June’s Consumer Sentiment Index gives us some insight into the current customer mindset. Sentiment is at an all-time low as high inflation, rising gas costs and increasing interest rates cool consumers’ optimism and spending plans. And yes, every industry from restaurants to grocery stores are dealing with labor shortages, increasing food costs and supply-chain issues.
So why should businesses put the customer at the center of their leadership, strategy and operations and always be looking for ways to show them loyalty?
Because according to Forrester, creating a customer obsessed organization also enables brands to more easily sense and respond to market circumstances. This flexibility and agility ensures customer loyalty, staff engagement, and sales growth in any economic climate.
So it’s the perfect time brands learn how to flip the loyalty construct and show reciprocity to their customers.
Download the NEW eBook – Developing a Customer-First Strategy that Makes Your Business Thrive to understand the drivers of customer obsession and how to show your customers loyalty. Read Now
Getting to know your customers relies upon your ability to build a relationship with them. Today’s consumers want to work with brands that share their values and demonstrate transparency around their ESG priorities. The Loyalty Report 2022 confirms that when a brand’s purpose is aligned to customers’ values, it drives an 8x lift in loyalty.
Brands that are transparent with their customers build the trust necessary to sustain lasting loyalty. Good surveys and feedback tools open the conversation for understanding what is important to guests. Surveys offer an opportunity for brands to uncover insights that can help them make customer-first decisions that continually improve their products and services. HTeaO asks for feedback in the mobile app after every transaction and has increased brand participation rate 29% YoY. Read the HTeaO Restaurant Loyalty Case Study to explore all their results.
Punchh research of over half a million surveys completed over a two-year period shows that customers who participated in a brand’s survey indicated a higher rate of emotional investment in that brand, even when not necessarily giving just positive feedback. Creating a two-way conversation empowers customers to be part of the change.
Brands have many opportunities to capture the hearts and minds of their customers. In the Developing a Customer-First Strategy that Makes Your Business Thrive eBook you can learn more about how personalization, gamification and subscriptions play a role in marketing to people and not data points. Plus, you’ll get a sense of how a loyalty solution can help you achieve a customer-first business strategy. Download the eBook now!
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