The Visionary Chronicles
CHRONICLE: November 13th, 2020
" Success is the result of perfection, hard work, learning from failure, loyalty, and persistence..."
Wisdom from Colin Powell
Loyalty Loop | How to Engage beyond Purchase
A brand's ability to engage, provide value, create loyalty, and build a community is correlated with their ability to create a complete product lifecycle buying experience…
The Loyalty Loop…
Gone are the days when the traditional purchase funnel remains effective (Awareness, Consider, Evaluate, and Purchase). Those who choose to engage with customers beyond purchase understand this is the most critical time when building a long-term relationship.
With e-comm becoming an integral segment of a brand's future revenue stream, their ability to seamlessly and authentically engage post-purchase builds loyalty. Loyalty can not be purchased, it is earned, earned through providing value beyond purchase, and personalizing their brand experience. It is not enough to create Awareness, you must build Loyalty. Loyalty is what creates Communities, and Advocates for the brand itself. The lifeblood and the growth of a brand will be realized through loyal communities, those who enjoy the brand experience and advocate their products.
This new way of engaging through the Loyalty Loop is to take the Traditional purchase funnel, and close the loop;
Loyalty Loop (DYNAMIC)
Each touchpoint beyond purchase is critical to brand/product growth, whether a good or bad experience, it is always best to proactively engage beyond purchase, making the consumer feel you care for them personally.
" You give loyalty, you'll get it back. You give love, you'll get it back…"
In my new Podcast, Loyalty Loop | How to Engage beyond Purchase I discuss why it is integral to a brands long term success to ensure they have a complete Loyalty Loop process in place, and it is integrated into the Foundational Pillars of the company, executed seamlessly.
We discuss this and other business strategy topics and pressing issues facing Entrepreneurs, Executives, and Small Business Owners.
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