The way that consumers shop has changed significantly over the past decade, but many brands and retailers have failed to create loyalty programs that evolve with the CPG landscape and its savvy consumers. In fact, more than half of the customers that signed up for loyalty programs aren’t even using them.
The reality isn’t that customer loyalty is dead – it’s just in need of a makeover. While many brands still rely on margin-diluting coupons and discounts to hold onto customers, top performing CPG brands have realized that these traditional approaches just don’t cut it anymore. Instead, they’ve implemented new tactics that provide real value to the consumer, and go beyond just saving them a dollar or two.
Because today’s consumers have thousands and thousands of products to choose from, they take more into consideration than just price when making a purchase. The modern consumer craves new experiences, and often favors brands with a story or purpose they can identify with. They choose brands who go above and beyond expectations to create not only great products, but great shopping experiences. Above all, brands that want to build long-lasting loyalty must earn and maintain their consumers trust.
Download our latest eBook, The Customer Loyalty Revolution: 5 Foundations for Engaging the Modern CPG Consumer to explore strategies that top CPG brands like Dove, Kraft Heinz and more are using to grow brand loyalty. We’ll discuss how to:
- Create loyalty-driving experiences with new, innovative, and on-trend products
- Attract younger generations by building emotional connections that go beyond the product itself
- Use “surprise and delight” strategies to exceed customer expectations, rather than just meet them
- Build, and more importantly maintain consumer trust through quality and transparency
- Meet the increasing demand for products that make life easier, and that offer customers something in return
Because the cost to acquire a new customer is higher than that of re-engaging an existing one, its crucial that brands implement new strategies to nurture customers and increase their lifetime value. Download the eBook to start building a loyalty strategy that will keep shoppers coming back for more.
For more information on how to incorporate Shopkick into your loyalty strategy, contact us.