How can a Customer Data Orchestration Platform help with Loyalty?    

How do you turn satisfied one-time customers into loyal repeat purchasers? With a customer loyalty strategy, brands can build a customer base full of happy, loyal individuals – the key to sustainable growth. Here’s how Allant’s customer data orchestration platform can speed up and improve this process. 

What is customer loyalty? 

How likely are your customers going to engage with your brand on a repeat basis? This is the core question behind customer loyalty. And while it is a simple question, there are a variety of factors that contribute to the answer. Brand trust, pricing, product or service quality, customer service, and more all impact overall customer loyalty.  

Why is customer loyalty important? 

While many marketing strategies focus on acquisition and new customers, having a successful customer loyalty strategy can be the true key to a sustainable business. From a return on investment (ROI) perspective, loyal customers usually present the most profitable audience. It can cost six to seven times more to acquire new customers than retain current ones – and those existing customers spend an average of 31% more. 

Having happy, loyal customers is what every business should strive to achieve – and they can help a business in more ways than simply higher spending. These customers have the added benefit of increasing word-of-mouth referrals, brand trust, and brand advocacy. It’s important to remember that creating customer loyalty is more than just offering discounts and rewards, it encompasses all areas of the customer experience.  

Key elements of a customer loyalty strategy 

For companies looking to improve their customer loyalty strategies, here are some of the key elements to consider:  

Mutually beneficial value exchanges 

To gain greater customer data (and brand trust), brands must present a clear value exchange that benefits the customer as much as the company. Value exchanges that are weighted in favor of the company will see reductions in brand trust and, ultimately, loyalty. If consumers can see that providing personal information will improve their experience with a brand, they are more likely to engage. 

Personalization 

To increase customer loyalty, captured data must be used to create easier, more convenient customer experiences. Leverage your data to offer a more proactive and relevant service that genuinely adds value to customer’s lives. The more relevant the customer experience, the more likely the customer will engage and share more information. This in turn allows the brand to create an even better experience – an ongoing cycle that benefits both brand and customer. 

Two-way communication 

Effective communication is vital to a successful customer loyalty strategy, but this will look different for every individual. Allow your audience to control how your brand contacts them and how frequently – giving them full control over the brand experience. Showing that you have listened and actioned feedback will also help to increase that essential brand trust. 

Relevancy to the right customers 

To maximize the potential of customer loyalty, brands must know who their high-value customers are and build experiences relevant to them. If your loyalty program or offerings don’t resonate with the customers spending the most money, customer loyalty will be slow growing (if at all). Encouraging trust, loyalty, and advocacy in your highest-value audiences can also help grow brand awareness with the right customers. 

How a customer data orchestration platform can help with customer loyalty 

A customer data orchestration platform can implement personalized and relevant customer experiences built on mutually beneficial value exchanges and feedback loops. It’s a way to truly understand your customers and provide greater value, resulting in higher customer loyalty. 

Harness your customer data 

The data holds the answers; you just need to ask the right questions. Understanding the factors that spark loyalty in a brand shouldn’t be left to chance. Customer interactions, behaviors, and purchase patterns can reveal trends and insights to find out what your audience truly values. This insight will form the foundation of an effective customer loyalty strategy. 

Gain actionable insights 

Leverage proven analytics techniques to unlock the real value of your data. Analytic approaches, such as longitudinal data analysis and engagement scoring, can help brands prioritize successful initiatives and identify gaps in the customer journey. Focusing on specific audiences or behaviors – such as reactivation win-back analysis – can identify characteristics of high-value customers to understand how to retain them. 

Build supercharged customer journeys 

Supercharged customer journeys offer personalized, relevant experiences that move initial buyers into a fully dynamic engagement loop. Focus on deploying onboarding and engagement journeys based on affinity and loyalty scores to stand out from the competition. A customer data orchestration platform can capture consented data directly from the customers, identify individual preferences, and deliver two-way engagement to increase customer loyalty. 

The round-up: drive customer loyalty with Allant Group 

A truly sustainable business is built on a foundation of loyal customers. Customers loyal to a brand are more likely to spend money with the business and will spend more of it. Discounts and incentives can help customer loyalty but a successful strategy will give customers so much more. With Allant Group, brands can harness the power of their data to nurture customer relationships and produce game-changing results. 

Would you like to learn more? Contact US to discuss how we can help you with customer loyalty.