Trends in customer loyalty

Traditional components of customer loyalty programmes, such as customised privileges and gifts are becoming increasingly run-of-the-mill. Customers are using services from more and more different companies, that are in constant competition for opportunities to treat their customers like kings.

Moving beyond reward points

Because of this, in 2013 reward points are becoming less and less popular as a way of attracting customers, and marketing teams are instead focusing on different ways to reward their customers that go beyond offering reward points. The clues to success can be found in customer data. We can say that the giant steps taken towards customer loyalty in dynamic sectors like finance and telecommunications are at least as important as gaining new customers. We would therefore like to present the most recent and most prominent trends in customer loyalty management.

The customer is king. And he likes to haggle.

In order to gain customer loyalty companies must be prepared to bargain. Bargaining is not only about giving services for less money and in order to have a more privileged relationship with your customer you must face the fact that you will need to engage in tough negotiations. Thus you must ensure that you offer solutions that take this fact into account before beginning negotiations.

The new VIPs

VIP services are no longer limited to customers who pay the most. How often a customer buys your products or services can also be an important factor in receiving special treatment. People who have been using your services for years are not only your customers, they are also your brand ambassadors. It is therefore smart to prioritise their satisfaction and sense of loyalty.

Empathetic customer service representatives

When talking about customer satisfaction it is important to underline that customer representatives must actually represent customers. It is not enough for them to behave rationally, they must also appeal to emotions. This can only happen if information about a customer is meaningfully displayed to representatives on their screens. Team members who constantly pass the buck to a colleague whenever they face problems are an obstacle to achieving customer loyalty.

Big data, big difference...

The bigger the data, the clearer the picture. If you have a clear view of the big picture you are better placed to respond to customer needs and build loyalty. Big data is vital to building an understanding of patterns of general behaviour. The path indicated by big data leads directly to customer loyalty.