14 Aug, 2017

What Drives Brand Loyalty Between Customers and Stores?

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I’ll give you a hint: brand loyalty involves digital transformation.

In a recent study done by Salmon, participants reported that innovative tools create the most brand loyalty among brands and customers.

In order to achieve brand loyalty, retailers must adapt strategies to become “Omni-channeled” in order to meet their audience’s needs, who are seeking a more digital experience.

“A survey provided by Bouncepad in the US said that 78% of 1,000 consumers surveyed want businesses such as retailers, restaurants and hotels to do a better job of using technology to improve the shopping experience.Bookingbug reports.

Customers in the digital age expect to shop through both online and offline stores that provide fast customer service, speedy delivery, and personalized experiences found through innovation.

Convenience Is Important

When online shopping emerged in the retail industry, it became clear that customers priorities’ had shifted. More and more consumer sought convenience.

This forced retailers to integrate new online services such as mobile apps and online websites to meet the customer’s needs.

“Once competition moved online, retailers began launching their own websites, either as a place-marker to allow customers to browse products before visiting a store or offering fully fledged e-commerce capabilities.” Computerweekly reports. 

Social Media

Consumers report that social media provides a trustful, sought after reputation among stores.

“Almost 90% of customers say the availability of a brand through their preferred communications channel will impact their customer loyalty.” Computerweekly reports.

Social media increases customer service and enables a unique interaction between brands and audiences, which creates long lasting, easily accessible relationships through mobile tools.

In order to create this bond through social media, it is crucial for brands to actually answer customers online. If they don’t, they are at risk for appearing unreliable.

“Research by customer engagement firm Genesys Interactive Intelligence found that 87% of consumers claim their brand loyalty is affected by whether or not a brand will respond via their preferred social media or communications channel, and 79% say they will use a different retailer if they receive a slow response from customer service.” Consumerweekly reports. 

In order to achieve fast responses, machine learning can be integrated into social media to deliver automated responses that will further prompt customers with desired answers.

Virtual Reality

Virtual reality is among the tools that create an interactive experience for customers, resulting in brand loyalty.

“Many technology theorists have also speculated that the annual revenue generated by VR devices should grow to 30 billion by the year of 2020. This is a huge boost from a market that is currently sitting at less than $1 billion per year in investment.” Filmora reports.

Virtual showrooms have revolutionized the customer experience, bridging the gap between real life and digital, creating a seamless experience among all channels.

VR headsets are used in virtual showrooms, allowing customers to virtual shop for a product or service, through an engaging picture, which creates a personalized experience for the shopper.

“Any scene you see in an ad may be recreated in VR to totally transform and personalize the shopping experience. As physical and virtual worlds further blend through VR, shoppers will experience a brand’s products in a way that is more engaging than ever before.” According to Forbes.

It is clear that customers are seeking a digitally driven experience. Attend Digital Retail Transformation Assembly to learn about more innovative tools being integrated into retail.

ABOUT DIGITAL RETAIL TRANSFORMATION ASSEMBLYDigital Retail Transformation Assembly

North America’s most prominent digital, marketing, technology, and business leaders from the Retail Industry are coming together October 19-20, 2017 at the Grand America Hotel in Salt Lake City, UT, for the Digital Retail Transformation Assembly.

We are thrilled to announce the participation of Martin Barhel, Global Head of eCommerce & Retail Strategy, Facebook, and Brendan Witcher, Principal Analyst, Forrester as speakers at this edition of the Digital Retail Transformation Assembly.

This is not just another “Retail” event. Spaces are reserved for the best in the business. Register your interest here >

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