06May Customer Loyalty – It’s NOT On The Cards!
What earns loyalty? Apparently it’s not the cards! Despite 86% of the population using retail loyalty cards on a regular basis, 50% of shoppers do not think it is worthwhile collecting points, according to a new survey from YouGov SixthSense. The report also found that 93% of consumers would continue to shop somewhere, even if the retailer scrapped its loyalty scheme.
The report states that only 17% of respondents choose where to shop based on their participation in loyalty card schemes. I see that as a positive for the more customer focussed businesses. It implies that ‘loyalty’ is ‘more than’ a card, and that customers look for a lot more – our challenge is to work out what that ‘more’ is and deliver it….. consistently.
A great question to ask your customers (particularly your ‘regulars’) is ‘why do you buy from us?’ (please be careful of the intonation – it might sound as if you think they are a bit ‘odd’!!!). Then…
- Work out what drives loyalty from your customers
- Keep doing it, and…
- Develop ways to ‘it’ better.
If you play your cards right, you could improve the loyalty of your customers!