Rewarding customer loyalty as a touchpoint
As this McKinsey article from 2012 so accurately pointed out, customer behavior is evolving. Customers are more savvy, and are way, better at their research And that was in 2012! It’s 2016, and customers have only grown in their discernment and acumen.
While it began with the advent of the Internet and shopping search engines, online review sites and social media have significantly contributed of late.
With the evolution of customer behavior, it’s time to evolve your approach to customer engagement. It’s no longer only about competitive pricing (although pricing shouldn’t be entirely discounted). It’s about the customer experience.
Brands need to be aware that every single touchpoint with a customer is both an opportunity and a potential pitfall. But something that’s not commonly addressed is that touchpoints alone do not happy customers make. Sometimes it’s about “cumulative experiences across multiple touchpoints and in multiple channels over time”. In other words – it’s about the customer journey, from start to finish.
Touchpoints should be identified from the get-go. First you as a company must draft the blueprint of your customer journey. Once you have the ideal customer journey mapped out, identify where you should integrate your touchpoints along the way, whether they be transactional emails, drip email campaigns, or rewarding purchases.
And that, of course, is where we come in
Warning: shameless plug ahead! Rewarding customer loyalty can massively impact your bottom line. Feeling doubtful? Just ask Starbucks and Best Buy. Rewarding their customers’ loyalty provided a direct, dramatic increase in revenue.
Coming soon: 3 common point points, and how to identify and resolve them.