With retail players multiplying their acquisition offers and marketing strategies to attract new business, consumers are spoilt for choice when it comes to shopping. The real challenge is to retain these one-time customers and turn them into loyal advocates of their brand, and make their investment worthwhile.
This article is aimed at CMOs, Loyalty & CRM Directors and anyone else who feel they’re not doing enough to retain, delight and leverage their customers. We’ve written it to explain what we think next-gen loyalty looks like for retail in a 10-min read.
Retailers are “tired of fighting with algorithms” to reach their community of passionate customers.
This is what Lush posted when they left social media a few months ago. They joined Glossier, H&M, Sephora and more who are rethinking how dependent they've become on social media and are now building their own community platforms.
But why community platforms? What goals do these help them achieve?