How do we create the deepest bond possible with our customers? It’s a question that preoccupies top creative agencies and brands everywhere. Although you can pique consumer interest by slashing prices or running a superficially clever campaign, this type of loyalty is usually fleeting. To forge enduring bonds, a different approach is required—one that involves tapping into the power of experiences.
Sustained Customer Loyalty
Even long-standing customer relationships can fall by the wayside if they aren’t properly nurtured. Yet while it might not be possible to permanently own someone’s loyalty, brands that use experiences to forge emotional bonds will keep their customer base happy and engaged—and ultimately, out of the arms of the competition.
A study by the consulting firm Accenture shows that experiences, whether positive or negative, are the most significant factor when it comes to consumer loyalty. Accenture’s data shows that 65 percent of people switch at least one provider over the course of a year because of a substandard experience. Additionally, 82 percent of these people say they would stay if the experience had been better.
Accenture recommends that brands and top creative agencies develop an “experiential loyalty model” offering customers exclusive access and experiences. Other suggestions include making loyalty an enterprise objective and privileging experiences over discounts.
Brands that work to promulgate an emotional response in their customers are simply more likely to build rapport and create resonance. At least one study has shown that campaigns based around emotional content perform twice as well as campaigns that make a strictly rational appeal—and that’s a statistic sure to intrigue brands and the top creative agencies who work with them.
The Power of Positive Experiences
Deeper engagement means greater customer loyalty—and nothing drives this process better than positive experiences. By focusing your efforts on creating memorable, highly positive experiences, you will form enduring bonds with your customers.