Whereas model loyalty is traditionally considered based mostly on money-saving alternatives like product reductions and loyalty program perks, new analysis from CX software program agency Redpoint World asserts that the idea of loyalty is shifting within the post-pandemic age.

The agency’s new report, with analysis associate Dynata, reveals traits in model loyalty and implications round buyer expertise administration. The survey analysis additionally finds that 65 p.c of shoppers profess they love fewer than three manufacturers, and a further 9 p.c declare to not “love” even a single model.

Respondents indicated that personalization was key to their model connection. About three-quarters (74 p.c) say that feeling valued and understood as the important thing part in a model loyalty program.

Rewards for delivering personalization properly and cultivating model loyalty are additionally evident

The survey discovered 64 p.c of shoppers would relatively buy a product from a model that is aware of them, and 34 p.c would spend more cash on the product to take action. Moreover, 49 p.c of shoppers mentioned they have been extra more likely to think about a purchase order from a model that does personalization properly, and almost one in three (32 p.c) are keen to miss a single dangerous buyer expertise in the event that they really feel like an organization is attempting to grasp them as a buyer. Preserving loyal clients blissful is vital to buyer retention, a course of exponentially less expensive than buyer acquisition.

Whereas many establish high quality items and companies as important to loving a model (40 p.c), 17 p.c additionally spotlight high quality of expertise throughout all channels as their chief requirement. The primary method manufacturers make particular person shoppers really feel understood is by providing related product and repair suggestions (52 p.c), adopted intently by making it simpler to navigate in-store and on-line (44 p.c). One other 41 p.c mentioned they really feel understood by way of the frequency of interactions—sharing related data in a well timed method, however not too usually.

“Chasing reductions for items and companies is finally a race to the underside by way of prices,” mentioned John Nash, chief advertising and marketing and technique officer at Redpoint World, in a information launch. “The organizations that may thrive are discovering methods to extend buyer loyalty by way of supply of well timed, related and extremely personalised data. Shoppers strongly point out that personalization and an general frictionless buyer expertise are foundational to constructing relationships which are constructed to final.”

Generationally there’s a little bit of a divide by way of what model loyalty entails

Boomers are likely to lean extra in the direction of reductions and loyalty factors, whereas values alignment is the most important driver of brand name loyalty for Era X, Millennials and Era Z. Nonetheless, roughly 1 out of 4 shoppers at all ages prioritize worth alignment. Knowledge privateness issues too, with almost half (47 p.c) of shoppers feeling disrespected when manufacturers acquire their private information with out asking or don’t clearly give them the chance to opt-in or opt-out of communications. Moreover, 42 p.c really feel disrespected when manufacturers should not clear about how they are going to use their private information.

This survey was performed through Dynata in January 2022 and focused 1,000 U.S.-based shoppers over 18 years of age.