It turns out an exclusive offer may be the key to big brand loyalty.
A near majority of consumers, 71%, are more loyal to brands that dole out exclusive offers and may be the key in winning, and keeping, new customers, according to the 2024 Consumer Loyalty Report from SheerID. The data also revealed 73% feel more emotionally connected to brands that give them an exclusive offer.
SheerID polled more than 3,200 U.S. and U.K. consumers regarding their perspective on the economy, discounts and what it takes to build strong loyalty to a brand, according to a press release.
The survey, which was fielded by Centiment on behalf of SheerID between this spring, showed that enduring loyalty occurs when customers feel emotionally connected to a brand, and the best way to spark and nurture that emotional connection is by giving gated, exclusive offers to consumer communities, like students, teachers or the military.
The survey also revealed 80% of members of these communities identify more strongly with their community than they do with their age group, political affiliation 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. More than half said an exclusive offer would motivate them to try a new brand, and 45% would even switch their loyalty from one brand to another if the brand had a community-based exclusive offer for them. More than 70% of members of all five consumer communities would be likely to join a brand's loyalty program in order to redeem an exclusive offer.
"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," Stephanie Copeland Weber, CEO of SheerID, said in the release. "The SheerID Open Verification Platform makes it easy for a brand to build a gated offer program for hundreds of consumer communities in minutes."