Exclusive retail offers are recognised as a key driver in customer loyalty. The new research comes from a survey conducted by SheerID, in its 2024 Customer Loyalty Report.
Nearly three quarters of respondents feel more emotionally connected to brands that give them an exclusive offer. 71% are more loyal to a brand that offers them an exclusive deal.
Long-lasting customer loyalty typically occurs when customers feel emotionally connected to a brand. The research also discovered that the best way to nurture that connection is to offer discounts towards consumer communities – such as students, teachers, etc.
80% of those community members identify with these groups more than other demographic distinguishers – such as age group or where they live.
More than 80% of consumers who belong to a consumer community check to see if a brand offers an exclusive deal to their group.
“The findings of the 2024 Consumer Loyalty Report are clear: gated, exclusive offers to consumer communities cultivate an emotional connection with brands that builds long-term loyalty,” says Stephanie Copeland Weber, CEO of SheerID.
More than half of the respondents said that one of these exclusive offers will tempt them to try out new brands. 45% would switch loyalty to a new brand if it had a community-based exclusive deal.
The survey found that offering community discounts is better as members of that group feel recognised and rewarded by that brand. Where they feel those deep emotions towards a brand, they are then prepared to dedicate their loyalty.
This factor into consumer communities is eye-opening research, as companies can use this to tailor their exclusive discounts towards communities to foster better customer loyalty.