How to engage, interact and build loyalty with your customers

This PSFK guide is a customer loyalty report on the strategies brands and retailers can employ to engage, interact and build with their audiences.

Executive Summary

Customers increasingly see their brand relationships as extensions of themselves and communities with shared values and passions to take part in. Retailers and brands are getting hip to the business value their most loyal customers provide beyond increased sales and data in a spreadsheet. A more comprehensive approach to loyalty is building stronger customer connections, while simultaneously generating more value for businesses, their partners and their customers.

Report Overview

While tying individual spend to timely rewards is still very much at the core of the modern loyalty program, how the changing expectations of consumers and the two-way nature of the digital and social marketplace now enable so much more. In this customer loyalty report, the PSFK iQ research team explore seven innovative customer loyalty strategies, bringing them to life with leading examples of innovation from the marketplace.

What You’ll Learn In This Report

• Why customers value their ability to advocate, offer expertise and be their aspirational selves.
• As customers want to belong, be recognized and contribute to a favored brand’s lasting success, how brands and retailers are leveraging the notions of personal ownership and membership as extensions of customer loyalty.
• Why the perks of a loyalty scheme must deliver commensurate benefits, favoring exclusive access, expedited service and meaningful influence, in addition to monetary compensation.
• How brands now champion their top fans as ambassadors and collaborators and how investing in platforms that do a better job of tracking a wider array of customer activity outside of just total spend (think social media shares and community posting).
• Why companies are considering more ways for members to get involved from affiliate sales to feedback on the latest R&D.

What’s In This Report?

To help our community of retail insiders better understand the loyalty, PSFK has identified 7 key strategies that highlight innovation on the part of creators and companies to take advantage of emerging opportunities.

This customer loyalty report includes:

• 7 new strategies for consumer loyalty
• 32 best-in-class examples from organizations leading the way through innovation
• Consumer insights around loyalty innovation

Who Prepared This Report?

This customer loyalty report was developed by the same PSFK research department that since 2004 has provided trends-led innovation consulting advice to Apple, BMW, Facebook/Meta, Google, Microsoft, Samsung and Volkswagen.