Customer Frequency A Strong Indicator of Brand Loyalty and Forgiveness
Hackensack, New Jersey (PRWEB) April 22, 2015 -- A nationally representative sample of 1,000 Americans ages 18+ were asked about their relationship with their favorite brand. The survey discovered:
• Frequency is the best indicator of loyalty – Opportunities exist for companies with infrequent purchase cycles
• Mistakes provide a huge opportunity – These opportunities are often wasted
• Delight Drives Advocacy – It doesn’t take much to delight
Almost 40% of customers interact with their favorite company at least weekly, making the quality of customer interactions very important. For companies with less-frequent customer transactions building loyalty will require strengthening the relationship you have with your customer. Staying in touch in-between transactions, to recognize a birthday, anniversary or to add value to customers day-to-day lives with an app or newsletter, will increase the frequency of your interactions in a natural and genuine way. Forcing interactions through unwanted daily emails and hourly Facebook updates is most likely not the solution.
Over the course of a year all businesses have many opportunities to either surprise and delight or disappoint their customers. Long term these experiences have the potential to either enhance or inhibit successful business growth.
Companies need to master the art of the apology. While the majority of favorite brands caught their own mistakes and made amends, fewer than half of them apologized. When the companies didn’t catch their own mistakes, they were less likely to make amends to customers who brought it to their attention, unless of course the customer used social media as their communication source.
About a third of customers indicated that they had been surprised or delighted by their favorite company in the past year. The benefit of providing surprises or delights is remarkable. Nearly 8 in 10 customers who have been “delighted” by their favorite brand say they are brand loyal, or an advocate, compared to just 3 in 10 of customers who have not been delighted.
Plan for delights, apologize for disappointments and strengthen the relationships you have with customers with more frequent communication and interactions.
About Strativity Group Inc. Passion, Expertise and Execution
The people at Strativity are united by passion and guided by a proprietary integrated methodology to unleash exceptional performance with employees and customers. With experience at leading organizations such as American Express, Bain, Deloitte, Ipsos, IRI, Bulgari, and HP, Strativity brings world-class experience combined with a focus on measurable results.
We measure success by a single word: Execution.
Strativity has had the privilege of working with exceptional brands such as Mercedes-Benz, MasterCard, Royal Caribbean Cruise Line, Walmart, New York Times, FedEx, Clinton Foundation, American Management Association, SAP, Wyeth, Honeywell and Johnson & Johnson.
With over 160 completed projects in 21 countries impacting over 250 million customers and 400,000 employees, Strativity is ready to face your challenge.
Kelly Sirimoglu, Strativity Group Inc., http://www.strativity.com, +1 (201) 808-8511, [email protected]
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