To build customer loyalty, companies are tempted to hop on the “I’m your best friend” bandwagon or offer up coupons. But as Principal Analysts Emily Collins and Maxie Schmidt-Subramanian explain, the root of loyalty is delivering real value to customers.
Brands need customers. Customers, ultimately, don’t need brands.
Despite this reality, companies take shortcuts on their quest to “earn” customer loyalty. They tug on heartstrings and use discounts to lure customers into joining loyalty programs.
In this episode, Principal Analysts Emily Collins and Maxie Schmidt-Subramanian argue that these efforts don’t build real customer loyalty. Instead of jockeying with competitors to be the brand with the greatest “best friend” persona, companies should focus on delivering real value to customers and let the connection flow naturally from there.
Great customer experiences may well be the path to true connection. As Emily Collins explains, someone traveling on an airline with a high CX score will perceive the airline’s flights as more on time. The great experience elevates their entire outlook.
Sure, it’s easier to make a heartfelt commercial than dig deep into your value proposition and carry that through to execution. But in a world where disruptors lurk behind every corner, it’s work well worth doing.