Shared meaning

According to research published in the Harvard Business Review, there are three common myths around customer loyalty.

Myth: Customers want to have relationships with brands. Truth: 77 percent don’t want a relationship. What they really want are discounts.

Myth: Customer engagement builds relationships. Truth: No, it doesn’t. Your customers already suffer from information overload.

Myth: The more interactions the better. Truth: Wrong. There’s no correlation between the number of interactions with a customer and loyalty.

The research showed only one consideration is far and away the primary driver of customer loyalty: shared meaning. A shared meaning is a belief that both the brand and consumer have about a brand’s values or broad philosophy.

from “Marketing Rebellion: The Most Human Company Wins” by Mark Schaefer