In today’s fast-changing technology-driven world, consumers are expecting more from the companies they purchase from.
Building brand loyalty is not an easy task, especially with so much “woke-washing” around in CPG marketing and big food brands battling for the attention of price-conscious consumers.
Nonetheless, there are a lot of great examples of companies going above and beyond to deliver more customer value and adapt to the ever-changing consumer behavior to make sure they are always top of mind for their audiences.
In this blog post we’ll share why brand loyalty matters, is achievable and how AI is helping brands to build it.
Brand Loyalty: Why It Matters
- More revenue. It’s obvious, but the more loyal your brand’s customers, the more you can rely on repeat purchases without deep discounting.
- More reach. A loyal consumer is more likely to recommend your products to their friends and family and recruit new fans.
- Data. Personalisation is crucial and gathering valuable data through marketing activation, partnerships and customer loyalty programs makes personalisation possible, as well as informing your marketing strategy.
What drives brand loyalty?
49% of consumers said they’ve purchased a product they weren’t planning on buying after receiving a personalised recommendation. Think about the opportunities your brand has to engage consumers by offering real-time and accurate personalised experiences. Saving time and money provides real value. At the heart of every effective, personalised experience is a lot of consumer & product data and linking the two is at the heart of creating outstanding experiences.
Helping consumers reach their goals faster is key. Whether you make it more convenient for them to shop for your products now or adding them to a shopping list to buy later is a great way of driving brand loyalty. The more convenient it is for someone to purchase your product, and the less time or mental effort required to complete a transaction, the more likely it is they’ll become repeat customers.
Life’s complicated enough and full of decisions, so brands who make it easy to complete the weekly shop become valuable friends.
3. Product Innovation
Keeping up with consumers’ fast-changing needs and desires can be a challenge for product innovation teams, especially for big organisations with rigorous processes.
While trends like well-being or the environment are important consumer issues, especially for millenials’, often smaller players can be quicker to offer products that capitalise on these needs.
Leveraging vast datasets to predict food and consumption trends can give larger brands the head start in the innovation race.
4. Corporate Social Responsibility
Today’s consumer also expects their favourite brands to have strong values and be consistent in applying those values day in, day out. Having programs that genuinely give back to society and environment and that engage employees as well as consumers to make a difference can be powerful tools.
How AI Is Redefining Brand Loyalty
1. Personalised Customer Journey
AI has a role to play in driving brand loyalty in each of the sectors above, and while it may seem that a lot of the potential lies in the future, AI is already transforming brand experiences today.
Personalised food and recipe recommendations is a great way for AI to save time on browsing the millions of possible recipes that exist.
For example, vegetarians looking for inspiration are too often bombarded with chicken recipes before finding the right recipe. Using AI to understand and surface the right content is a great way to drive engagement.
Likewise, understanding these preferences to deliver relevant and useful ad messages or is valuable, time saving work that machines can help us with.
A fun use can is using AI to understand flavour and recommend wines to go with the food you’re preparing. Pairing wines and foods to find complementary flavours helps users navigate complex areas that can be daunting and gives people confidence to try new things, or know they’re making the right choice.
2. Convenient Shopping Experiences
Brands are making sure their products end up in baskets by making both their products and recipes shoppable! By removing friction and tedious steps from shopping experience, you’re making sure consumer will love your brand even more.
By understanding individuals tastes and preferences, you can make ever more effective recommendations for users that feel less like being bombarded with unwanted ads and more like being helped and inspired to get better results.
Building brand loyalty takes time and focus but is always worth the effort. Smart brands are achieving results by partnering with agile companies who specialise in helping bigger partners to deliver smarter food experiences.
With the right technology, providing personalised and convenient experiences for your consumers to win their hearts can be easier than you think.