Aug 02, 2022
In Welcome to the Forum
“What brands can’t afford to do now is increase prices to then invest in improvements. At best, people will see a minimal price increase when times are tight as annoying but at worst, if the business has millions upon millions of customers, it’s deemed a money-grab and actively costs them custom.” Acquisition versus retention is likely to be another dilemma for brands right now. Malia suggests that, in the current climate, retention should be where brands focus the majority of their efforts. “Acquisition of course comes with increased revenue but that counts for nothing if the once loyal customer base has left after feeling unloved during a time when money is tight and spending decisions have to be made,” he says. “On the other hand, focusing on rewarding loyal customers in the moments that matter actually goes a long way to supporting acquisition naturally.” The workload like this whatsapp number list allows both the vendor and the affiliate to focus on. Clicks are the number of clicks coming to your website’s URL from organic search results. Additionally, he says that word of mouth remains a key driver, again going back to the importance of overall customer experience. “Think about conversations you’ve had with friends and family about retailers or restaurants. How many times have you been told by a loved one that they’ve received a loyalty bonus from a business and have found yourself looking at becoming a member yourself? It’s that natural word of mouth around businesses showing they care that’s like gold dust right now.” So, what brands out there are leading in customer loyalty right now? Malia suggests that a lot of brands offering basic points-based schemes need to re-consider their value to consumers. “I’m a strong believer in loyalty schemes which give people context or goals which clearly highlights what they’re working towards. It’s all well and good amassing ‘points’ at a supermarket chain but does anyone really understand what the points equate to?” he asks.