In our lives “before” – before COVID-19, before massive economic disruption, before increasing unemployment – it was okay if you primarily saw your loyalty program as a means to drive more transactions for your brands. In fact, that was probably working for you pretty well. But we’re in a different market now, one where consumers are suddenly evaluating brands and purchase decisions very differently.
How well do you understand this new mindset, and how does your loyalty strategy need to pivot to respond to it?
Below are the two graphs shown in the video, based on a Maritz Motivation survey of 500 US consumers in April 2020. The survey results show that how a brand handles its employees during the crisis has greater influence than how a brand handles its customers in terms of how much a consumer will purchase from them in the future.
For more tips and strategies, download our new white paper, Recognizing the Power of Your Loyalty Program, which will give you actionable strategies to reaffirm customer commitment during the COVID-19 outbreak.