Emotional Customer Loyalty
#Greenwashing, poorly executed CSR initiatives and Damage Control have all caused huge trust issues in many markets, especially in countries like China. Research shows that the phrase 'Corporate Social Responsibility' has started having negative effects on the willingness of consumers to buy. The days of building businesses on the sole premise of making money are now over.
New generations of consumers have higher expectations; they expect their purchases to not only have value from an experiential standpoint, but also from a broader impact point of view. They want their purchases to have meaning.
Companies' #transparency is the 'New Black'. #Loyalty thrives from 'starting conversations' with your Customers rather than focusing only on Product performance. Customer Lifetime Value is now also including your #ShareofHeart ; how active is your #Brand within the Social Cause your #Customers care about?
#BrandActivism is an increasingly popular Marketing practice in which Companies voluntarily take a stance on what they think is “good" for society and the world and therefore, they 'start a conversation' that leads to a better Loyalty, an 'Emotional Customer Loyalty'. Rational Loyalty. Behavioural Loyalty. Emotional Loyalty. What do you prefer?