Nearly 70% of consumers will pay more for brands they love, while 64% expect to be recognized for their loyalty
NASHVILLE, Tenn., Sept. 12, 2024, the messaging and loyalty platform that helps customer relationships take root and grow, released its new Relationship Marketing Trends: Brand Rankings Reporta consumer research study evaluating what drives customer relationships and purchases for 200 global brands. The report ranks brands based on personalization, omnichannel experience, trust, and loyalty.
Building deep customer relationships is more crucial than ever in a time of changing consumer expectations. The Relationship Marketing Trends: Brand Rankings Report provides actionable insights to help marketers shift from transactional tactics to long-term loyalty strategies and is a vital resource for understanding the current state of relationship marketing.
“In today’s competitive marketplace, gaining and retaining loyal customers is increasingly challenging,” said Micki Howl, CRO of Marigold. “Our new Relationship Marketing Trends: Brand Rankings Report underscores what we share with our clients daily-that brand loyalty is earned through personalized interactions, seamless omnichannel experiences, and a genuine commitment to understanding customers. This report provides valuable insights into the ‘secret sauce’ of effective marketing, offering strategies to help marketers achieve more with less by targeting the right audience with the right message at the right time.”
The extensive findings identify a number of critical takeaways, including:
- Personalization is essential but often lacking: Despite its importance, many brands still fall short in personalization, with 40% of consumers frustrated by irrelevant content and 33% feeling their needs are unmet by brand messages. Brands must leverage customer data effectively to deliver timely and relevant content.
- Zero-party data (ZPD) is the key to increasing personalization: Retailers, in particular, are zeroing in on zero-party data (ZPD) strategies to reward customers for engaging in surveys and polls to deliver highly personalized offers and experiences.
- Omnichannel experiences engage loyal customers: Brands must provide consistent and seamless experiences across all channels. 24% of consumers say they prioritize a consistent digital experience across channels over price when making purchase decisions.
- Trust is fundamental for relationship-building: Trust is essential for collecting personal data and fostering brand loyalty. Over half of consumers (57%) feel comfortable sharing data with their favorite brands, and 49% consider brand reputation more important than price when purchasing.
- Loyalty programs drive long-term engagement: Effective loyalty programs differentiate brands and foster customer retention. With 68% of consumers willing to pay more for brands they are loyal to, investing in these programs is crucial for long-term success.
Methodology
The research, conducted in partnership with Econsultancy, surveyed 21,700 consumers from the USA, UK, and France during July and August 2024. Respondents rated brands on a 1 to 5 scale across four categories: personalization, omnichannel experiences, trust, and loyalty. Scores were indexed on a 0-100 scale, and the overall relationship score was the average of these four categories. Screening questions ensured respondents had engaged with the brands in the past year through various channels.
Downloadthe full Relationship Marketing Trends: Brand Rankings Report for all the brand rankings and insights.
About Marigold
Marigold is the messaging and loyalty solutions platform dedicated to helping companies find their people, really get to know them, and turn them into superfans. From email marketing and in-app messaging to loyalty programs, referral programs, gamification, and personalization, Marigold provides a full range of solutions that support every stage of the customer lifecycle, helping brands cultivate relationships that drive business growth.
Today, bringing together Campaign Monitor, Cheetah Digital, Emma, Liveclicker, Sailthru, Selligent, and Vuture under one banner, Marigold is helping 40,000 brands deliver ultra-personalized customer experiences at scale. Find out more at MeetMarigold.com.
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