The cost-of-living crisis is impacting lives significantly. UK inflation hit 10% in September 2022, and the price of everyday items such as food, utilities, and fuel has risen by 45%.
Beyond the obvious human cost, this extreme situation, with no immediate end in sight, also raises serious questions for marketers. In these straitened times, what price should brands place on loyalty? How important is it in the short-, medium- and long-term, and how can consumer loyalty be driven effectively, efficiently and sensitively?
In this whitepaper, we discuss five key activities marketers should focus on to ensure ongoing customer engagement and loyalty through these difficult economic times:
- Rewarding loyalty
- Understanding the sector and trends
- Putting customers first
- Communicating effectively
- Adapting your organisation