‘Five Or More’ Purchase is a Sign of Loyalty
Yotpo’s report explores how brands can earn customer loyalty, and what would makes them lose it – cringe-worthy social media content, for example Customers today want to feel valued every time they shop at a brand. They also expect their relationships with brands to go beyond the transaction. Amid these ever-rising consumer expectations, supply chain […]
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Yotpo’s report explores how brands can earn customer loyalty, and what would makes them lose it – cringe-worthy social media content, for example
Customers today want to feel valued every time they shop at a brand. They also expect their relationships with brands to go beyond the transaction.
Amid these ever-rising consumer expectations, supply chain disruptions, and low third-party data access, Yotpo released a State of Brand Loyalty report, according to which, nearly 40 per cent of shoppers said they would have to shop at a brand over five times to consider themselves as loyal customers.
Customers also think about how their personal data is used by the brand. Data transparency is vital, and 68 per cent are willing to share information if the brand offers more personalised experiences.
Consumers expect more, beyond quality products and good customer support — 84 per cent of respondents agree that they will be inclined to buy from a company whose values align with their own. Additionally, bad business practices such as worker or environmental mistreatment are the top reasons discouraging loyalty.
“Long-term loyalty takes time and repeated positive interactions with a brand that go far beyond points or VIP tiers. While rewarding customer behaviour is one piece of the puzzle, gaining emotional loyalty can have an exponential effect on eCommerce growth,” said Jordan Gutman, GM of Loyalty at Yotpo.
“Every customer touchpoint, from website to email to text message, presents a huge opportunity for brands to engage in a meaningful way. And loyalty program data can take those interactions to the next level. As marketers continue to shift their focus to customer retention, a strategic loyalty program will deliver hyper-relevant, personalised experiences that keep shoppers coming back.”
How Shoppers Define Brand Loyalty
- To 80 per cent of global consumers, being loyal is that they “tend to buy from the same brand.” Other answers are,
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- “I recommend the brands to others” (47 per cent).
- “I’m proud to be associated with the brand” (43 per cent).
- “I buy from the brand despite cheaper competitors” (42 per cent).
- Respondents ranked loyalty programs as the top experience brands could provide to make them more loyal (69 per cent), followed by simple and easy to understand return policies (47 per cent); positive on-site search and mobile-friendly experiences (both 46 per cent), and rewards for subscriptions (45 per cent).
- 83 per cent said belonging to a loyalty program influences their decision to buy again.
I Would Do Anything for Loyalty, But Not That
- Sixty-five per cent agree that they would sign up for a loyalty program, 58 per cent mentioned e-mails.
- Rather than go to a competitor, 59 per cent would wait to purchase until their favourite brand’s products were back in stock.
- Forty-three per cent said too many messages/too much spam, while 30 per cent admit that could cause them to lose their loyalty.
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