At rDialogue, we believe that loyalty marketing can be summed up best as: brands paying attention to customers, and acting accordingly. Consumers give brands access to their preferences, their purchasing history, their data—all in exchange for relevance. We have long believed that there is no single, best approach to creating customer loyalty. In fact, there are five key drivers for loyalty: access, financial value, information, recognition, and time. The latter, time, is quickly becoming the most important of these drivers. But what is time?
Time is a fairly vague term. How does it manifest as a driver of loyalty? To give it some context, we 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.
In a recent Gallup Poll, 41% of American adults said they feel they don’t have time to do the things they want to do. That same poll found that twice as many Americans would prefer two additional weeks of vacation, versus two additional weeks of pay.
Our own research found that 54% of retail loyalty program members and 77% of travel loyalty program members say it is extremely important for brands to save their time and/or make it easy to purchase.
How are brands actually pulling this off?
- Order Ahead: Brands like Starbucks, Panera Bread Company, and McDonalds offer order-ahead functionality that makes it easy and fast to get what you want when you want it
- Two-Day Shipping: Brands like Amazon have paved the way for the quick, free shipping revolution. What was once groundbreaking, is now table stakes. Target, Walmart, and others now offer free two-day shipping.
- Delta SkyMiles: We know, we know. It’s a bit of a cop-out to pick a whole program, but SkyMiles is a perfect example of how brands use frictionless experiences to save you actual time. With SkyMiles, Delta allows members to skip lines and cut corners—and with how big of a hassle travel already is, we can’t think of a better way to reward customers.
How do your favorite brands save you time?
To learn more about time, why it's fast becoming the most critical loyalty driver, and why brands like Walmart, Amazon, and Delta are investing in it, check out our new white paper.