Innovation shaping the digital loyalty market

How Innovation Shapes The Digital Loyalty Market

In this age of digitization, businesses are seeking a competitive edge to deliver a seamless experience. In a sea of game-changing tech tools, anything goes viral these days. It is crucial for marketers to keep a close eye on the new trends that could potentially change the digital landscape.
Recent market research shows that by 2020, product and price will no longer be the key differentiators for brands, so much as customer experience! Customer experience directly impacts business growth and helps a brand stand out from the rest, especially since “42% of retail customers in the US won’t…shop again from a brand after two bad experiences” (Source).The growth of the ‘app culture’ has enabled customers to have everything at their fingertips. So businesses really need to focus on optimizing the digital channels, which ensures positive customer interaction, builds a successful loyalty market as well as customer retention. A frustrated customer won’t care if it’s odd hours or a Sunday. It is important to create a hassle-free experience by offering 24X7 customer support.
Ours is an era driven by A.I. and automation. Chatbots are quickly becoming the cornerstone of every digital business. It’s all about being personal and seamless. Chatbox conversations spark meaningful engagement with customers which can build trust and loyalty. Step by step building of a customer’s Immersive experience provides insights for your business and an opportunity to build the customer’s trust. The rise of voice assistants has definitely changed the way customers hunt for products online. Voice assistants make personalized recommendations through one-to-one automated conversations this way businesses can collect useful data insights from those customers to heighten their future experiences which boosts sales.
This interacted Chatbox, voice assistant and A.I. uses behavioral science to shape a customer’s journey. This digital body language lets you analyze every single interaction of the user on your website (i.e. their clicks, hovers, scrolls, zooms and more). It will fetch insights about how a user really feels about your business as well as drive people to your website(s).
Today, the loyalty market is much more than just points and rewards. It is about creating the most customized, specialized and user-friendly experience so that you can get lots of happy returning customers sharing their experiences over and over on social media about your business or brand. Innovating your business so that you can change their spending behavior digitally will lead you to more loyal pastures with lots of followers.