An emotional bond with a brand is nowadays extremely important for a customer to purchase. According to Capgemini, 70% of loyal customers spend twice for a brand they are engaged to. It is not easy for a brand to create a strong brand of trust with its audience, since the market is extremely competitive, and many options are available for them to choose from. One positive outcome of this competitive market is that it is extremely chaotic and overwhelming, therefore if you manage to create an emotional bond with your audience, they will feel at ease staying with you. When a business manages to create that emotional link, their customers will choose their product regardless of other options available, even when they may be better or cheaper. Therefore, every business should pay a lot of attention and invest in creating this bond, because it will only benefit them.
The more you know, the better
Incentive marketing and loyalty program are the best way to achieve this goal and create an emotional relationship between your brand and your clients. If you want to start this program, you need a clear plan to reach your goals without wasting money, while making sure that what you are offering is exactly what your audience needs to feel attached to your brand. We believe that is fundamental to have a strategic plan and a clear idea of what you want before starting to invest money. What you truly need is data. If you have a clear idea of who your target is, you can customize the program and make it tailor-made for them. The more information you get, the better. First of all, you should know the demographics of your audience: where they live, the average age, salary, interests, etc. Maybe you already have this data from previous analysis, maybe you need to spend some time to make it better. Anyways, it is fundamental. If you want to build an emotional bond, you need to understand who you are interacting with and meet exactly their needs. You don’t want to be offering random gift cards, anyone could do that. You want specific rewards that are exciting and will make your audience feel regarded, respected, and loved.
5 Key Factors
These are the pillars on which you should build your relationship with your audience:
- Trust: no relationship on Earth works without trust. Show your clients that you care about them and their well-being, be honest, and respect them. They will do the same.
- Lasting impressions: the experience of the gift is the most important thing. Your audience must remember how it felt, how good it was. This is something that strengthens the emotional link and it’s very strong.
- Recognition: show your clients that you care about them with rewards. This should be both in and out of the buying cycle, meaning that you should not consider only purchase, but also other factors such as interaction and engagement.
- Affinity: it’s something that strengthens the bond so much. It’s all about shared values and ideas, and how the brand is felt close by the customer.
- Attachment: it is a connection that it’s long-lasting. Many businesses thrive because of attached customers that would always choose them instead of any other competitors.
How to Build Loyalty
The feeling must be that the company values its clients and wants to create a bond with them. To show this feeling of appreciation customer incentives is the most used tool, especially gift cards. The idea is to reward your audience, be it clients or employees, with gifts. Depending on your marketing strategy you can decide when, what and how to gift them. Studies show that giving should be done consistently and when a set goal is reached. When people are rewarded they feel grateful and want to be better and work harder, this is called Endowment Effect and you can read more about it in this article. Having a loyal customer base will bring you so much, and this is why all the major brands invest in incentive marketing: because it is worth it. Following the steps, studying the data, and choosing the best platform to help you are key. Once you have all the information you need, you can actively start rewarding your audience with the best. If you want to know more specifically about different types of rewards and programs, you can find everything you need in this article.
Once you have chosen the best platform, your incentive marketing program begins. We think we are the best platform, because we do not only offer a strong technological platform, but we also assist you in the process and give you strategic consulting. Since with us you can live track your investment, you can see when and how your gift cards are being used and, most of all, get part of the non-redeemed vouchers back. You can have the most efficient loyalty program with the highest ROI.
If you want to start the incentive marketing journey, you should have a strong platform and a qualified team to help you make the most out of it and get the highest return on investment. If you want to know more about why ROIWARD is the best choice and what we offer book a demo with us and let’s talk about it! We have the best platform, an amazing team, and the highest ROI!
You get ROI they get Rewards.
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