How Brands Like Walgreens And Volvo Are Creating Value Ecosystems For Consumers
Offering additional assistance and communication post purchase adds extra value and fosters relationships between consumer and brand
Brands are transforming purchases from transactional moments into membership experiences or partnering with affiliate services to enhance the ownership experience, effectively creating a value-based relationship between brand and customer.
Extended loyalty programs and services create additional value that can foster further connection between the consumer and the brand. Here are the leading retailers recognizing the importance of not only reaching consumers directly, but offering services that benefit their usage of the brands products and services beyond the purchasing point:
Alibaba's 88VIP Loyalty Program
Alibaba is offering exclusive rewards and experiences across its ecosystem to top shoppers. 88VIP members will be entitled to annual memberships for popular Alibaba-owned platforms, including video-streaming hub Youku, on-demand delivery service Ele.me, movie-ticketing platform Taopiaopiao and music-streaming app Xiami. The company says the program will drive increased consumer loyalty and engagement by offering even more incentives for members to live, shop and have fun, all within the Alibaba ecosystem.
Polestar, Volvo’s new performance brand, is luring customers toward its offerings with a subscription service called ‘Care by Volvo.’ It’s an almost all-inclusive service: the single monthly payment includes the car lease, insurance, wear and tear, and roadside assistance. There’s no down payment and the idea is that all consumers pay for outside of the subscription is gas. The offer has been overwhelmingly well-received and is in great demand.
Drugstore chain Walgreens launched Find Care Now, a digital platform and marketplace that connects customers with healthcare providers. Through the Walgreens website or app, customers can connect with partner providers, including NewYork-Presbyterian Hospital and telehealth service MDLive, for consultations over the phone, online or in person, for a convenient and cost-effective omnichannel experience. Examples of services include talking with a doctor by phone or video for $59, with an average wait time of 14 minutes, or getting dermatology care online for $99, with an average wait time of 24 hours.
These are just a few examples of how brands are developing value by providing an ecosystem of services. For more examples, download PSFK's report Evolving Membership Ecosystems Through Paid Loyalty.
Lead image: Volvo via Instagram