Loyalty

Consumers’ perception of value extends far beyond price. Creating value requires companies to have a keen understanding of the explicit and implicit needs they solve for customers; seeing how those needs are evolving and solving them in new and compelling ways.

Building customer loyalty and achieving sustainable growth is a top priority for most executives. Yet many try rewards or points programs to compete but don’t drive results. Standing out and developing lasting loyalty will require a solution that doesn’t look like a loyalty program as we know it.

Companies are finding it harder to connect with customers in ways that matter, as seen in nostalgia-heavy Super Bowl 2024 commercials. And the usual growth strategies aren’t fixing the problem. In Forbes, Dev Patnaik advises brands on how to stay future-focused and resonate with a new generation of shoppers.

Customers increasingly want brands to take stands on social and political issues. Dev Patnaik writes in Forbes how companies can focus on developing the three pillars of strategy, culture, and leadership to connect with customers authentically.

Many professionals care more about impact than status. When they don’t see it in their organizations, they leave. Here’s how leaders can rethink their overall strategy and evolve to fit this new paradigm. Otherwise, they’ll risk losing employees as well as customers.

These days, once-loyal customers threaten to abandon brands like Starbucks, Chipotle, and Dunkin Donuts over unwanted changes to their rewards programs. Colleen Murray explains why the best loyalty programs don’t revolve around free perks and discounts.