Even as the pandemic enters its third year, it still continues to influence our lives in extraordinary ways.
There are
still measures in place for many countries across the world, with measures varying
based on the specific country, the specific establishment, and the number of
people in attendance within a particular location.
As a result
of these many changes, companies have had to make changes to the way they
operate – especially when it comes to interactions with customers. And although
many countries are experiencing relaxations in terms of the measures in place,
it is expected that many brands will continue to adhere to some (if not all) of
the measures implemented during the pandemic.
At 8 Ways
Media, we anticipate that brands will capitalize on loyalty and engagement in
2022.
Here we
outline some of the top trends we anticipate in terms of customer loyalty and
engagement:
1. Keeping up with post-pandemic
standards
During the
height of the pandemic, companies created perks and additional services to
customers to support them in navigating the complexities of the pandemic. This approach
worked twofold: on the one hand, it supported customers who felt overwhelmed by
the changes as a result of the pandemic. On the other hand, it made them feel
safer in the hands of the brand they were interacting with, which enhanced
their brand trust and brand loyalty.
For example,
although we have been living with the pandemic now since early 2020, many businesses
continue to request that customers wear masks and maintain social distancing measures.
This is to ensure that all customers who enter a shop or store feel safe whilst
continuing with their shopping.
2. Offering subscriptions
During the
pandemic, many brands introduced subscriptions as a way to increase brand
awareness, enhance brand loyalty, and generate additional revenue streams.
At the
height of the pandemic, we witnessed a notable increase in subscription rates, particularly
in digital media entertainment, education, software, and e-commerce. Growth in
subscriptions increased immediately during the first few weeks of the covid
pandemic, with a 20-40% increase when compared with pre-covid times.
What’s more,
many individuals converted from a trial-based subscription to a paid subscription,
meaning that businesses offering trials were successful in converting those
trials into paid subscriptions.
3. Greater brand transparency
2021 was
largely considered a year for recovery for many industries. However, it was
also a year that witnessed heightened demand for brand transparency from consumers.
These demands
span the globe, with interest in transparency extremely high in emerging
markets. This is largely due to the fact that emerging markets have greater
access to information through social media/the web.
People don’t
want to interact with brands that do not fit with their values and lifestyles. Instead,
they expect their relationships with brands to be reciprocal, otherwise they will go elsewhere.
4. Zero-party data
Zero-party data (ZPD)
is the data that consumers intentionally and proactively share with a brand. It
can include purchase intentions, preference centre data, and how the individual
wants to be recognised by the brand.
ZPD is provided in
good faith, with the expectation and assumption that the information will be
kept safe by the company. With third-party cookies eventually being phased out
during the course of this year, ZPD will play an increasingly important role as
a definitive and trustworthy way of sharing information.
ZPD is a superb tool for
businesses. It supports personalisation through point-in-time preferences and
engagement, and can be combined with other data to make it even more robust.
5. Remain authentic
Since the pandemic, consumers have become more cautious in the way they show loyalty. Expectations are higher than ever, and customers are no longer willing to connect with brands they feel they cannot trust.
To cultivate
loyalty in the coming years, brands need to think about HOW they demonstrate authenticity to their audiences. Consumers now expect their favourite brands to
have a clear-cut strategy when it comes to diversity and inclusion. Other areas
of authenticity include the environment and climate changes. More and more
customers want brands to take a clear stance on the matters that are important
to them.
Contact our agency today to discover how we can support your brand in increasing loyalty and generating greater conversions.
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