Emotionally connected consumers have a 306% higher lifetime value compared to satisfied customers

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 07, 2020, 7:48 AM UTC

Consumers are more likely to buy from a brand they feel connected to.

This article cites a PSFK report which notes that product drops can help brands create hype and reinforce consumer loyalty while improving on-going engagements via CRM and membership strategies. The piece also shares that consumers are 76% more likely to buy from a brand they feel connected to, and 57% would likely spend more.

Further, emotionally connected customers will recommend brands at a 71% rate over satisfied consumers (45% rate). Creating a dynamic outreach program through CRM and marketing systems can help brands understand consumer behaviours, activate brand loyalists, and attract new customers.

Brands can reward committed consumers with early access to new products. For example, Nike created an exclusive virtual pop-up store to create hype around the release of Air Max 720 shoe.

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