Think about the people you are most loyal to in your life. Have you ever wondered what causes you to feel that sense of loyalty? Is it because of a rational or emotional connection? You’ll come to realize that it’s due to an emotional bond that is built over time and shared memorable moments. If done correctly, this concept can also be applied to businesses as it can help them establish a strong emotional loyalty connection with their customers.
The power of emotion
The Forrester’s 2019 CX Index indicates that emotion plays a strong role in relation to customer loyalty. To be successful, brands need to understand the importance of nurturing a relationship with their customers through transparency, reliability and an emotional connection that can be influenced through instant gratification.
No time to wait
Let’s face it – we live in a busy, fast-paced world where most people are in a hurry and have short attention spans. This is why most consumers today have a growing need for instant and easy gratification.
According to Forbes, 80% of a company’s future revenue will be generated from 20% of its current customer base. Therefore, rewarding customers is now essential if you want to set your brand apart from the rest and thrive!
The psychology of maximization
While loyalty is all about running the stretch, it should be fostered in the short-term to yield long-term results. When people spend money on your brand, they expect to receive the maximum value instantly. We suggest you follow these highly recommended tactics to build instant value with your customers:
- Provide people with smaller rewards more frequently.
- Make the experience memorable.
- Due to decreased attention spans, you need to strike when the iron is hot before the loyalty-nurturing window of opportunity closes.
No matter what kind of business you have – be it a small café or a large e-commerce chain, implementing instant gratification into your customer experience is a vital initial step that can help you reinforce long-term loyalty. 82% of customers with high emotional engagement would always buy from the brand they are loyal to when making decisions to purchase compared to 38% of customers with low emotional engagement.
What steps have you taken to integrate instant gratification into your loyalty program? Find out how we can help you achieve and maintain the results you desire by talking to one of our loyalty experts today.