In a competitive situation and to offer their customers the best products at the most attractive prices, brands and retailers must compete in terms of customer experience, and not just with the players in their sector!
Indeed, customers now expect to have an optimal experience, at the level of that offered by the leaders highlighted by the Isoskèle Customer Recognition Barometer, more than ever a benchmark tool of reference in this field.
Recruit as many new customers as possible, or retain as many existing customers as possible? This dilemma is a classic in marketing, and professionals in the sector are often divided on the answer to this problem. However, the question is less and less debated, in the era of all-digital and the purchasing power crisis. Indeed, while audiences are over-solicited and advertising budgets are often the first to be impacted when the economy tightens, capitalizing on consumers who already know you and consume your products is a guarantee of performance. All the more so when their valuable data, activated efficiently and ethically, allows companies to retarget them and reward them for their loyalty…
In this context, it is not surprising that more and more companies are claiming to adopt a “customer centric” approach. However, wanting to put the customer back at the center of the company’s challenges is one thing, but how can we go beyond the intention and make it a concrete reality for the main stakeholders, and economically beneficial for the company?
LOYALTY IN THE TEST OF THE CRISIS
To build loyalty, and even go further by transforming customers into ambassadors, product quality and generosity are no longer enough. You have to make sure you offer the best possible experience. And this largely involves the ability to personalize the experience offered to the customer, and to enter into a close relationship with them, to surprise them and to value them.
A necessity, while in this period of tension on purchasing power, 20% of consumers declare themselves less loyal to the brands of which they are customers, and 73% even admit to changing brands more easily when they benefit from an offer from a competitor. This is what emerges from the questioning carried out by Isoskèle as part of its 4th edition of the Customer Recognition Barometer. As part of this new edition, 5,500 adults representative of the French population were surveyed. In total, 11 economic sectors and 164 brands were put under the microscope by the BRC with, for the first time, the establishment of an overall score for the quality of the relationship perceived overall, and an in-depth analysis of the expected improvements, sector by sector.
And to go even further, in addition to offering brands an analysis grid to identify the progress that can be made on indicators such as the personalization of the relationship, the responsiveness of the brand or its capacity to transform its customers into ambassadors, the BRC allows brands to compare themselves with their competitors.
MEASURE TO STAND OUT
A challenge at a time when consumers expect brands to offer increasingly sophisticated experiences, at the level of the leaders in their market… and even beyond, according to the principle of “liquid expectations”: whatever the sector, the standards of an “at the level” experience are defined by digital giants like Amazon, or by brands in the beauty/cosmetics sector, like Yves Rocher, at the top of this 4th edition of the BRC.
“Beyond the sector, it is a great source of pride to be honored by a study that covers so many brands and questions such a large sample of consumers (5,500 French people). As the results of this 4th BRC remind us, we are in a context of high volatility in consumer loyalty, which is impacted by inflation and is forced to make budgetary decisions.reacted a few weeks ago Mélanie Catheline, Customer Marketing Director, of Yves Rocher for whom “The results of this Barometer (…) provide valuable insights into what works and should enable us to maintain our leadership today and tomorrow..”
A significant help as the level of quality of the experiences delivered across all 11 sectors analyzed by the BRC is increasingly high. From tourism to banking, including DIY brands, fashion and even catering, analyzed for the first time this year, the observation is the same: this year, 31 brands out of the 164 analyzed obtained the status of “Customer Recognition Champions” thanks to their average score above 7/10. That’s six times more than in 2021!
Without further ado, it is therefore urgent to discover the positioning of the brands analyzed and perhaps in particular of your brand within the ranking of the Isoskèle Customer Recognition Barometer. To be found in a series of 10 white papers, specific to each sector, to give decision-makers an overview of the particularities of their markets and the new practices that will structure customer relationship standards in the coming years.
Personalized restitutions are also possible, upon request.
Source: www.e-marketing.fr
