New brand loyalty research released by American Express reveals that the Covid pandemic has made consumers more appreciative of every part of the customer experience – from service, availability and access, to safety and trust.
The findings come as brands look for new ways to connect with consumers as a sense of normalcy returns to the country.
Will Thorne, Vice President, Consumer Acquisition for American Express says the Covid crisis has forced brands to interact with customers in new ways.
“Now we’re coming out the other side, we’re seeing customers placing greater priority on experiences that make them feel valued and more than just a number,” he says.
“As our research confirms, the product or service itself will always be the top factor that drives customer decision-making, but things like being recognised for their loyalty and ensuring there’s a high level of trust, is critical.”
Top 5 reasons consumers remain loyal
- The product or service itself
- Price
- Loyalty programs
- Customer service
- Trust
Customer experiences valued more because of Covid-19
- Customer service
- Availability
- Safety
- Trust
- The product or service itself
Based on the research, it’s clear that if brands do the right thing by their customers, it pays off. On average, Australians say the longest length of time they have maintained a paid membership with a brand such as a gym, credit card provider or mobile phone service, is 12 years, with a quarter remaining a paid member for 20 years.
American Express launches Membership Month
The research has been released to mark the start of American Express’ inaugural Membership Month in Australia.
From today, American Express Card Members will be able to access a variety of exclusive events and benefits, including special offers and discounts across retail, travel, dining, entertainment and wellness categories.
Some of the offers available to valid card members include:
- Spend $400, get $80 back at Hilton
- Get 15% back on dining at Habourfront Seafood Restaurant Sydney, Salts Meats Cheese, Gold Leaf Chinese restaurants and more
- Spend $300, get $75 at Ticketmaster
“Backing our Card Members is at the heart of what we do and launching this new initiative is about celebrating them and providing a great experience,” says Mr Thorne.