As we are approaching the end of 2020, it’s time to look out for 2021 and the transformation it is all set to bring in the respective fields. With intense competition in the market, brands have to find ways to get their lion’s share for survival. As brands prepare themselves to creatively keep their consumer’s attention, it will get difficult for a few of them to vie for the attention of the modern consumer.
There is a growing divide in consumer experience- the ones who are progressing well and the ones who are left behind. Only you can choose which side you wish your brand to be.
What does 2021 hold for consumer loyalty and what trends can you expect? This blog post is an answer to this question. Have a look at the consumer loyalty trends that you can look out for in 2021.
The industry will witness improvement in the collection of data and the application of machine learning/AI technology. The future of consumer loyalty programs is all ready to embrace personalization and the ability to recognize consumer sentiment and optimize consumer experience in real-time. Developing a deeper emotional connection is the ultimate objective of this emerging trend.
Brands have already begun eying mobile apps for themselves. With an app, brands can refine their sales and marketing efforts. They can rely on geofenced push notifications, newsletters and integration of loyalty programs within the app. Time has come when brands need to adapt and evolve with this trend and exploit the potential of a mobile app. Giant brands like L’oreal Makeup, BMW, Nike and various others have already launched their smart apps to grab consumers’ attention and win their loyalty.
As per a report, 77% of consumers say they would be more willing to purchase a company’s products or services if the company demonstrates a commitment to addressing social, economic and environmental issues.
The market will see an influx of CSR integration in 2021 with brands showing that they, too, care about giving back to the community. Consumers feel connected with brands that are a part of noble causes and respect their value of making a difference in society.
A report says that 80% of millenials love getting rewarded by the brands for their engagement levels with their favorite brands. Coca-Cola created a supermarket game to catch the consumer’s attention at the point of purchase in-store. The game involved throwing virtual cubes into a glass of coke. The winners of the game won rewards like Coca-Cola discounts or loyalty points. This game influenced target consumers to prefer Coca-Cola over other brands. And seeing the success level of gamification, several other brands are prepping up to adopt this trend.
Modernization has led us to a world where if a person is made to wait for a thing, he/she loses interest. Instant noodles, instant messaging and various other instant things have paced up the market and people are loving it. Same is the case when it comes to the redemption of rewards by the brands. Consumers are looking out for instant accruals of rewards and this is what will rule the consumer loyalty aspect in 2021.
Final takeaway & conclusion:
We at Genefied are ahead of time and prepared to embrace the trends that are set to mark the beginning of a new year. Whether it’s personalization, gamification, CSR integration or instant redemption, Genefied incorporates it all. While the gamification trend gets reflected with games like spinning wheel, it is the instant redemption from our programs that catches a consumer’s attention. With machine learning & AI, we succeed in offering personalized offerings to consumers through our program and fulfilling CSR is the kingpin of the organization.
The aforementioned transformative changes that are set to get bigger in 2021 require marketers brands to rethink about their existing perception towards consumer loyalty. Brands must be agile and innovative to survive in this ever-evolving market landscape.
Ramp up your game to gain consumer loyalty. Need experts to make it successful. Genefied is here to guide you with its consumer loyalty programs so that it works wonders when combined with these trends.