Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Customers will pay more if they're loyal to the retailer

Value and quality are the top drivers of loyalty for most

In "The Retail Shopper's Journey to Loyalty" report, Yes Marketing surveyed over 1,000 retail shoppers to identify their priorities and motivations as they move along the customer journey, from initial interaction with a brand to brand loyalty. The report revealed that 41% of consumers rank product quality/value of products as the top reason they're loyal to a retailer while 35% rank price highest.

The findings indicate that elements like free shipping perform well in driving purchases with new customers but are less influential for long-term loyalty. In fact, only 3% of shoppers ranked free or expedited shipping as the top driver of loyalty. On the other hand, 40% of consumers ranked it as the top convenience factor they consider before making a purchase with a new retailer. Marketers can leverage these findings to prioritize the benefits they communicate to customers at different points in their journey.

"The seamless and personalized consumer experience, which is a critical component of loyalty, has become table stakes," said Jim Sturm, president of Yes Marketing. "It takes so much more to deliver on the different expectations customers have for retailers at each stage of their journey. Smart brands must differentiate between effective acquisition tactics and effective loyalty strategies. This distinction can help brands increase lifetime customer value and create truly successful lifecycle programs."

In terms of rewards, the report found that cash is king with 39% of consumers reporting that cash incentives make them feel most rewarded for their loyalty, followed by early access to products (23%) and exclusive promotions (18%).

Additional findings from the report include:

• Overall, 73% of consumers report that they feel adequately rewarded for their loyalty.
• Only 9% of consumers say points toward specific rewards is the top factor for feeling rewarded for their loyalty.
• Similarly, just 9% of consumers say free or expedited shipping is a top factor in making them feel rewarded for their loyalty while just 1% ranked access to exclusive events as their top choice.
• Memorable or exciting marketing communications, convenient returns options and social responsibility were the least influential loyalty drivers, with only 1% of consumers ranking these as the most influential factor in driving loyalty.

"With the continuous evolution of the retail sector, retailers must build strong customer relationships to create lifetime loyalty and drive revenue," said Michael Iaccarino, CEO and chairman of Infogroup, parent company of Yes Marketing. "Given the significant impact customer loyalty has on business results, retailers need to find a service and technology partner who can enhance and execute their marketing strategies to adapt to changing consumer expectations."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)