As customer categories expand from “Baby Boomers” to “Generation X” to “Millennials“, there is a growing shift in how they expect to interact with brands. Customers are much more sophisticated and are interacting with brands they love across multiple platforms and channels. The question to ask is how can brands secure repeat purchases and customer advocacy in retail?
Gone are the days of segmenting customers on their demographics alone (gender, age group, etc.) A recent study and infographic produced by loyalty agency ICLP, indicates that customers now prefer to be targeted by their preferences and choices.
In the report, titled “The Future of Loyalty in Retail,” it reveals while engaging with customers on multi-channel platforms has become a necessity, brands also need to “empower customers” on these mediums, and not control the narrative.
The report also found that 41% of consumers would be encouraged to shop more frequently and spend more if they received personalized offers. Predictive analytics and marketing are allowing websites and apps to become personalized experiences based on the users’ preferences. Membership sites can also benefit from this personalization, which creates a consistent, designed experience unique to the individual.
Predicting Future Trends of Customer Loyalty in Retail
Below is the infographic that summarizes the report’s findings.
Over to You
How are you using personalization to enhance the brand experience your organization offers? How can you adapt your experiences to become more predictable and customized based on user preference and choice?
Also published on Medium.