3 Customer Loyalty Insights that Can Change Your Business

Many businesses are suffering from a customer loyalty problem and they may not even realize it. Consumer expectations and behaviors are redefining what it means to attract and retain customers. And loyalty is becoming a highly sought-after commodity that is more and more difficult to achieve.

No matter what industry you’re in, here are the insights business owners need to know about consumer perceptions:

• You’re not competing on just price and product anymore. The customer experience is worth more now than it has ever been before. According to a new study by Deloitte, 89% of customers in the U.S. and U.K. said they make decisions based on customer experience ahead of price and product.
• Do you have a fun factor? Fun is an important loyalty driver. It increases in importance generationally with 64% of Generation K listing it as a priority compared with 60% of Millennials, 55% of Generation X and 44% of Baby Boomers. (Source: Rare Consulting – Redefining Loyalty Research Study). Having fun will build the kinds of relationships you need to foster loyalty.
• Consumers are raising the bar for customer experience. With the prevalence and convenience of online shopping, customers are now seeking more out of their face-to-face experiences. The term “shoppertainment” refers to making your physical location more engaging with merchandising, environment, activities and events/promotions. When you stimulate the senses of sight, smell, hearing and taste, you create an experience that makes a connection with your audience.

The most successful organizations know the value of fostering loyalty. Loyalty is what ensures returning customers, strengthens your reputation, encourages referrals and gives you a competitive edge.

Brick-and-mortar locations of banks, car dealerships, hardware stores and other retail shops can benefit from adding fun foods to their customer experience. Whether it is a popcorn machine in the lobby, giving away cotton candy at a community event, selling Sno-Kones^® for a charity fundraiser or serving hot dogs during a customer appreciation lunch, there are plenty of options that are both easy-to-make and affordable (some as low as $.16/serving!).

If you’d like us to show you how concession foods can make a difference for your specific business, contact our team of professionals today. We can help you step-by-step through the decision-making process. Call 800-543-0862 or email [email protected] to get started!