There are three essential strategies for adjusting to a world with diminished loyalty:
- Take exceptional care of the 13 percent of your customers who are true loyalists. Give them the tools to be a referral engine for your brand. Stop bombarding consumers who don’t want a relationship with endless emails or complex loyalty programs, and lovingly reward your best customers. Do you know them by name?
- Prioritize marketing efforts that will keep you among the top brands in a consumer’s mind when considering a purchase. The brands in the initial consideration set are more than twice as likely to be purchased as brands considered later in the decision journey.
- Focus on consumer-generated marketing such as recommendations, conversations, social media posts, referrals and reviews that occur after the sale. These conversations are either creating or destroying the emotional connection to your brand and driving two-thirds of your sales, as the McKinsey study tells us.
from “Marketing Rebellion: The Most Human Company Wins” by Mark Schaefer