Amazon Prime customers pay a premium to receive better customer experience. What can luxury retailers learn from Amazon and from Prime Day?
In November 2017, we released the first wave of our proprietary research on Loyalty 3.0, “Changing Consumer Expectations” which revealed how the changing dynamic between brands and customers is impacting brand loyalty. Our latest rDialogue research continues to validate the concept of “Loyalty 3.0” as well as the continuing effect of Amazon, which we call “Amazonification”. This recent study, fielded in late early Q2 2018, shows that leading brands are taking a cue from Amazon and beginning to broaden their value propositions beyond the traditional transactional offerings, like free product, discounts, and rewards.
We’ve examined three ways in which brands are being more respectful of consumers’ time, and in doing so, strengthening their relationship with consumers. These three ways are: actual time savings, convenience, and frictionless experiences. It should be said, though, that these three categories have a lot of overlap. For our final dive, let’s discuss frictionless experiences.
We’ve examined three ways in which brands are being more respectful of consumers’ time, and in doing so, strengthening their relationship with consumers. These three ways are: actual time savings, convenience, and frictionless experiences. It should be said, though, that these three categories have a lot of overlap. For our second dive, let’s take a look at convenience.
We’ve examined three ways in which brands are being more respectful of consumers’ time, and in doing so, strengthening their relationship with consumers. These three ways are: actual time savings, convenience, and frictionless experiences. It should be said, though, that these three categories have a lot of overlap. To start us out, let’s take a look at actual time savings.
Having recently been in Seattle I had the occasion to visit the first Amazon Go store to check out the Amazon Go experience for myself. As you might expect, Amazon Go scores a hat trick on these three time-related value drivers.
Over the past few years, brands have been trying to find new ways to compete with and stay ahead of Amazon. Recently, Walmart has looked to BOPIS (Buy-Online-Pickup-In-Store) as a means to differentiate itself in the industry and to bring customers into their stores. But does the experience actually work? Is it convenient? Frictionless? Most importantly, does it save time? To find out, we went and tested Walmart BOPIS ourselves.
Amazon’s impact defines the idea of relativity, at least in terms of customer experience. Nearly every other brand customer experience can be measured in terms of how well it compares to what Amazon does. What can a CMO smart enough to be focused on the customer learn from this success that will make your brand(s) more relevant and your customers more loyal?
Last week Amazon released Jeff Bezos’ letter to shareholders and for the first time announced the size of its Prime membership: 100 Million. That’s right, 100 Million customers who contribute nearly $10 Billion annually to Amazon solely in membership fees.
Early on in January of this year, Delta sent me an offer that I could not refuse. “Would you like to fast track to Delta Gold Medallion Status?” Hell yes. It seemed like a simple enough ask. Get a trial Gold Medallion membership for three months. The caveat? Fly with us three times in three months and enjoy Gold Medallion status for a full year.
The Dana Barrett Show
Time. It's arguably the most valuable asset any of us have, and we're constantly seeking ways to get the most out of how little we have. In fact, in our new research study, time ranked high amongst respondents, with 64% considering time saving an essential component of a loyalty program. Much of this shift in attitude can be attributed to brands like Amazon and its Amazon Prime subscription program. Over a relatively short period of time, Amazon has reset—or restructured—consumer expectations. In our instant gratification world, Prime satisfies.
At rDialogue, we believe there is a fundamental shift in what loyalty marketing should stand for: brands must pay attention to customers and act accordingly. There’s a need for brands to be customer-centric and deliver value in more ways than rewards, points, and generic communications. In 2016, rDialogue published a white paper on this evolving approach, something we call Loyalty 3.0.
Understanding customers starts with collecting data, and then translating data into insights to be more relevant—and loyal to—your customers.
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