The original version of this piece appeared as an Adweek post.
Consumers today prioritize the values and ethics of the companies they support, and they are more likely to remain loyal to brands that align with their own beliefs. In fact, research shows that customers are willing to pay more for products or services from companies that prioritize ethical practices, sustainability, and social causes. They are also more likely to recommend and advocate for brands that actively engage in corporate social responsibility initiatives.
To strengthen brand loyalty and attract new customers, brands need to communicate their values clearly, engage in meaningful social initiatives, and prioritize authenticity. So, how can businesses ensure that their values are deeply rooted in their operations without sounding insincere?
One technique is to focus on personalized communications. Brands can create custom content that speaks directly to the issues that matter most to their customer base. Demonstrating that your brand cares about these topics builds trust and makes your customers feel good about supporting your business.
You can also use gated offers to reward people who give back. Think workers in helping professions like healthcare or teaching, people who make important sacrifices for their communities (like the military), or students who are working hard to change the world. Brands such as Target and Ben & Jerry’s are using exclusive discounts to show their appreciation for groups like these. In doing so, they make consumers feel valued, generate goodwill, and put out the message that they care.
Embracing customer values is good for everyone involved: customers feel seen and supported while you, the brand, nurtures retention and Customer Lifetime Value.
Ready to use a value-oriented approach to reward your customers while gaining a devoted following? Learn more about how SheerID’s Verification Platform can help you drive long-term customer loyalty.