Rewards are mandatory in loyalty program success, but according to one expert, convenience may be just as necessary. In fact, 8 in 10 shoppers say they’ll switch brands after a single bad experience – and inconvenience is on the list of things said to lead to a bad experience. An interview with our CMO on customer loyalty and how to make things easy and convenient.
(Interview conducted by BizReport’s Kristina Knight with Relay CMO Brie Tascione)
Kristina: How important is convenience to customer loyalty right now?
Brie Tascione, CMO, Relay Network: More than your brand, product, or price, making it easy for consumers to do business with you is what will ultimately determine whether they become lifetime customers, or move on to your competitors. With the rise of the “on-demand economy” where it takes a few taps on a smartphone to call a cab or pay a bill, the customer experience has evolved. Easy, digital, personalized brand interactions are the new normal, and self-service is on the rise as more and more consumers demand seamless, on-my-own experiences to take control of their brand interactions and accomplish their goals.
Kristina: How are brands doing at upping the convenience factor?
Brie: Unfortunately many businesses are falling short of these rising consumer expectations for service. This is because self-service still requires customers to ‘come and get it,’ (i.e. initiate contact with the company) each time they have an issue or need to take an action. That’s not convenient.
Kristina: What other trends are you watching in the loyalty space?
Brie: What impacts customer loyalty more than anything is minimal customer effort. A recent McKinsey customer experience study found that businesses that focus on making it easy across customer journeys — like onboarding, account updates or problem resolution — see significant improvements in revenue and customer satisfaction.
Click here to read the rest of the interview at BizReport.