For the past 6 years, the For Love or MoneyTM research has been tracking the consumers’ view on what loyalty is to a brand, beyond enrolling in a loyalty program.
11 dimensions of loyalty to a brand have been tracked and from the ongoing results we have defined loyalty.
Loyalty is not a program. What is loyalty?
Loyalty is an outcome.
Loyalty is a Behaviour. Your customers spend more, more often over the longer term with your brand versus similar competitor options. It’s a transactional connection.
Loyalty is a Belief. Your customers love, trust and recommend your brand. It’s an emotional connection.
Loyalty is a feeling of Belonging. Your customers identify with your brand’s purpose and connect with your community. It’s a deeper emotional bond.
Achieving the Loyalty Peak over the longer term requires the intersection of:
- Behaviour (The Mountains of Money)
- Belief (The Valley of Love)
- Belonging (The Cliffs of Connection)
Why is defining loyalty so important to brands?
When you know what loyalty means to your brand, from your customers point of view, you will then have the clarity to develop the strategies and levers to influence those loyalty outcomes:
- Behaviour (more money)
- Belief (more love, trust and recommendation) and
- Belonging (your customers have a deeper connection to your brand’s purpose and community)
The question then is, can a loyalty program be a strategy to drive any or all of those loyalty outcomes?
The latest For the For Love or MoneyTM research reveals more insights on what loyalty is to a brand and the 11 dimensions of loyalty, from the consumers’ point of view.
