Brands must build better relationships to retain customer interest

Customer retention, rather than customer acquisition, is a growing marketing trend forced on brands by the coronavirus pandemic, and a new global study seeks to provide insights into how brands can win long-term relationships with consumers.

R/GA, part of the Interpublic Group, surveyed nearly 16,000 consumers from mid-June to the end of September 2020 to understand how brand relationships are evolving across six product and service verticals: e-commerce, personal care and beauty, consumer technology and electronics, credit cards, quick service restaurants, and health and fitness.

Entitled, The Power of Brand Relationship Design, the R/GA report is based on responses from consumers in the US, UK, Germany, Australia, China, Japan, Singapore, Argentina and Brazil.

Key findings

• Buyer’s remorse. Globally, 60% of customers are unsure if they would make the same purchase decision if given the opportunity to do it again. They’re not committed, in part, because brands aren’t committed to them.
• Seamlessness is essential. 75% of customers don’t just enjoy, but expect, a seamless experience across all devices and channels. Brands must surpass these expectations to win over and win back lasting customers.
• Personalisation. 87% of respondents are looking for some degree of recommendation or curation from the brands they’re buying into. Customers want their unique needs and goals to be seen and supported in a way that works for them.

Key quote

“Like never before, there [are] new expectations and dynamics required for customers to stay bought into services. Customers are human. They crave connection, community and empathy, including from the brands they frequent” – R/GA report.