Yotpo, a leading e-commerce marketing platform, has today published its annual State of Brand Loyalty survey for the fourth year running. Based on the answers from 3,800 respondents across the UK, U.S, Australia, France, and Germany, the survey found that 85% of global respondents are more inclined to buy from a brand whose values align with their own.
In the UK, 87% shoppers stated they are increasingly drawn to brands whose values align with their own. A whopping 96% of UK Gen Z consumers said they were more inclined to be loyal to a brand that shared their values. Bad business practices related to the mistreatment of workers or the environment were found to be the top reasons that would discourage customer loyalty.
Amid less access to third-party data, consumers are increasingly concerned by the way their personal information is being handled with 81% of global consumers stating data transparency is important to them. However, 68% of global consumers stated they are willing to share personal information with brands they love in exchange for more personalised loyalty experiences and rewards. In the UK, this is also the case for 66% of consumers.
“Long-term loyalty takes time and repeated positive interactions with a brand go far beyond points or VIP access. While rewarding customer behaviour is one piece of the puzzle, gaining emotional loyalty can have an exponential effect on eCommerce growth,” said Jordan Gutman, GM of loyalty at Yotpo. “Every customer touchpoint, from website to email to text message, presents a huge opportunity for brands to engage in a meaningful way and loyalty program data can take those interactions to the next level. As marketers continue to shift their focus to customer retention, a strategic loyalty program will deliver hyper-relevant, personalised experiences that keep shoppers coming back.”
While consumers may have been more emotionally invested in their favourite brands during the pandemic, the onus is now on brands to earn shoppers’ emotional loyalty. Building true emotional loyalty requires crafting journeys, forming storylines, and creating more organic and deeper reasons for why consumers would choose to deliberately spend time with your brand and the experience it provides.
For example, tentree, a sustainable fashion brand and Yotpo customer, prioritises eco-consciousness at every touchpoint. Its engaging and interactive loyalty program, Impact Wallet, allows members to track their personal impact on sustainability.
“When building our loyalty program, we started with a central question: ‘How do we make our brand mission resonate with members while also turning them into repeat buyers?’ We knew customers would be interested in a program where they could actually see the positive impact made on the environment, and the Impact Wallet was a perfect solution,” said a tentree spokesperson. “By structuring our loyalty program around social responsibility, we’re able to reinforce our brand mission and allow shoppers to play an active role in combating climate change.”