The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.Learn More
The after stage of the customer journey covers all interactions that take place between a consumer and brand after the purchase of a product/service. Post-purchase stages include brands seeking consumer retention so as to drive repeat purchases, nurturing a long-term customer relationship through loyalty programmes and e-marketing as well as the importance of developing advocacy so that consumers become brand ambassadors and share their experiences. Key components of this stage are engagement and loyalty, considering brands for life as well as giving something back.
Source: Euromonitor International
Loyalty and customer engagement embody post-purchase in the customer journey, where brands seek to strengthen the relationship, drive loyalty, further engagement, and establish an emotional connection to ensure retention and advocacy. Loyalty schemes is one of the most prevalent means to drive engagement. However, with sheer volume of schemes available, consumers have reached a state of loyalty fatigue. Accenture data shows that 63% of consumers that take part in a scheme; less than 20% regularly use it. In the age of social media, building a brand community for sharing stories and nurturing brand advocates is part of the post-purchase stage, where dialogue can develop and grow.
For successful brands, a customer relationship goes beyond the mere transaction, it is for life. After-sales and loyalty go hand-in-hand in the post-purchase stage to encourage engagement and repeat purchases. Extended warranties and return policies continue to rank high in terms of loyalty, indicating that the practicalities of a purchase still matters. Striking the right balance in terms of meeting expectations is crucial, with under-delivering on customer service can be twice as great as over-delivering in terms of impact of revenue.
Giving back and CSR are increasingly being seen as way for brands to differentiate themselves from the competition. According to Nielson’s Global Corporate Sustainability Report, 66% of consumers are willing to spend more on a product if it comes from a sustainable brand. Millennials are particularly interested in brands’ CSR, reaching 73% stating their intention to spend more with a sustainable brand. In addition, 81% of Millennials even expect their favourite companies to make public declarations of their corporate citizenship.
Millennials tend to look for brands that:
This is L brings organic personal care products such as pads and tampons to the market, education consumers of the toxic effect of regular feminine hygiene products, whilst offering a safe and effective solution. The company has great social appeal by developing campaigns to support women in less developed countries, by donating a product for every product sold. It also works with over 3,000 volunteers to educate women in developing countries.