We are just about halfway through the first month of 2015 and key indicators have the economy trending in a positive direction. Consumer spending is rising, as are employee wages. The #1 challenge that retailers will face in 2015 is consumer engagement:
How do you get your customers to stay loyal to your brand and spend their money in your store, instead of spending it elsewhere? In the past, consumer loyalty was based on four basic motivators:
convenience,
service,
pricing, and
brand identity. While these motivators still exist today, they have changed in rank and are different for every individual consumer. Social media platforms and mobile apps also play a huge role in how your consumers identify with your brand. Knowing where, when, and how your customers interact is crucial to keeping consumers engaged. Brands can use these tools to listen to every one of their consumers and tailor offers to their specific needs and keep them engaged with your brand. Here are a few tips to help your consumer engagement in 2015: 1.
Reward More Than Just Purchases Loyalty programs were primarily based around purchase behavior. The trend today is to reward a consumers
action. Is your consumer checking-in to your store or event on Facebook? Are they reviewing products or reading content regarding your brand? Rewarding these actions can keep consumers engaged while providing them with meaningful incentives tailored specifically for them. 2.
Identify Your Most Passionate Customers Knowing your customer is an integral key to serving them better. Some consumers become very passionate fans of your brand. Rewarding behaviors beyond customer spend will also give you access to valuable customer data. These consumers should be rewarded for their insight into your brand as they often become your most vocal advocates and dedicated ambassadors. 3.
Stand For Something Sometimes a company needs to focus on more than just making the best product or having the best service, consumers are also looking for an emotional connection with your brand. A perfect example: Nike and their swoosh logo. Many consumers buy Nike sneakers because they want to be connected to everything that the swoosh represents - it's long history and connection to the world's most popular athletes. Emotional connections are the main drivers of engagement, advocacy, and brand loyalty.
Read more about consumer engagement for 2015 along with some great industry examples here!
