Increasing customer loyalty by building on long established category bonds and beliefs
New technologies change many things. Old approaches are becoming redundant and will eventually be replaced by the new generation. New inventions can save time and money and, be honest, make life more exciting. The pop band ‘The Buggles’ already highlighted how ‘video killed the radio star’ many years ago when it was feared that TV and video will make radio redundant.
In the following generation videos were replaced by DVD’s and now we have BluRay or Netflix which means there is no need to look for the biggest hard disks big enough to store all the films we ever want to watch anymore.
A similar movement was anticipated with the introduction of twitter, blogs and websites.
Magazine editors feared that their business was decreasing, but far from it. In fact many magazines claim that readership has actually increased over the past five years*.
Even the 18-34 years segment continues to grow despite being the techno generation. Typical young adults now seem to read more issues per month than their parents. So rather than being displaced by ‘instant’ media, it would seem that magazines are the ideal complement.
The reason behind this behaviour is quite easy to explain in one word ‘relationship’.
A trusting relationship a reader has with her magazine cannot easily be replaced by a website or a blog but it can be established as a complementary tool to get the information she wants.
Transferring this attitude in the world of retail, a trusting relationship with a brand will establish a level of loyalty that cannot easily be broken.
The customer might still shop around, absorb information on new product launches and try out the occasional competitor product. But in the end he/she will always come back to the long known product because this relationship is deep and trusted. It could be the product her mum used to use and it reminds her of happy family times, it could be the miracle cream that improved her skin during a stressful time in the job or the fragrance she was wearing when she met her now husband.
Customer research will help to uncover these memories and define them in a new and modern way hence creating a modern story with a sentimental twist from the past.
Designing a marketing strategy around these insights can be very efficient as most of the information is already embedded in the customer’s mind and needs the right wording to be pushed to the forefront. During the next shopping trip she will then see the product category and automatically be attracted to the ‘right’ product thus guaranteeing repeat business and brand growth.
Please contact us to find out how customer loyalty can be maximised for your business.
Email us on Sabinelohmann@insightsresearch.eu or call +44 (0) 934 331.
*Research carried out by In Style magazine, US, December 2010.