We know that building a loyal base of existing customers doesn't happen through guesswork and that there's no way to know what would improve customer retention without asking them or conducting rigorous, time-consuming tests (unless you're psychic).
But with the pandemic squeezing budgets and changing how people shop, getting up-to-date consumer insights on customer retention and loyalty has never been more important.
To equip you with the most recent data to help you with your customer retention strategy, we worked with Censuswide and polled 2000 nationally representative consumers in the UK to identify what today's shoppers want to see from retailers and brands in return for their brand loyalty. We have all the statistics you need to improve the customer loyalty from each existing customer.
We've organized our findings into the three Cs of customer loyalty: convenience, communications and customer incentives. Read on for a sneak peak into the stats and insights covered in the loyalty report.
Download the report for free to access the full range of customer loyalty statistics and insights, and find out what makes customers loyal to a brand.
When it comes to their customer experience online, consumers demand convenience and are unforgiving when it comes to frustrating online experiences - a positive customer experience is vital. Over 1 in 3 consumers (38%) would consider not purchasing if the online store is difficult to navigate and makes it hard to find the products they're looking for, since this results in a poor customer service. Make sure your store's navigation is intuitive, starting with your navigation bar. onsumers also want to find their dream products easily. Nearly a third of loyal customers aged 16-24 (29%) want online retailers to make it easy for them to discover more products they might like. Try using personalized product recommendations so shoppers can find the products that will resonate with them easily, as customer satisfaction means more loyal customers.
As far as communications are concerned, consumers - particularly Baby Boomers - want to take the reins. Almost 1 in 2 baby boomers (48%) want control over the type and frequency of marketing emails they receive.
The importance of excellent customer service through a good triggered email program is also clear, with 1 in 4 shoppers expressing a desire for back-in-stock and price drop alerts, as well as personalized post-purchase guides and replenishment emails.
Like all good relationships, customer retention is a two-way street and your customers expect something in return for their loyalty - such as a loyalty program. When it comes to incentives, loyal customers want to be in the know before other shoppers. Almost 1 in 3 loyal customers (29%) want early access to sales or limited editions, so consider using segmentation to send your repeat customers exclusive offers and advance notifications of sales via targeted customer loyalty programs. Personalized rewards can go a long way in terms of gaining yourself another loyal customer.
Download the Fresh Relevance Loyalty Report now to make sure you're giving shoppers what they want and not unwittingly sending them into the arms of your competitors.