Successful brands need to establish both effective acquisition and retention strategies. Loyalty is the answer. Brands investing in customer loyalty can help drive engagement and retention and attract new customers simply by designing a program that rewards existing customers and appeals to new ones.
Consumers find engaging, omnichannel loyalty programs of value, and during this age of increasing consumer distrust, loyalty programs provide brands the opportunity to capture rich, opt-in customer data. You have to earn a customer's trust first though.
Brands can leverage the power of storytelling to create deeper relationships with customers and share unique perspectives from individuals and company leadership alike. Brand storytelling is crucial to sharing authentic brand narratives, demonstrating key differentiators in memorable ways, and ultimately capturing market share.