Exploring the Psychology of Buyer Loyalty
Curiosity in Buyer Loyalty reached an apex at Comarch’s Buyer Consumer Group convention (CUG), held in Krakow, Poland, 9/11 April 2023. Significantly, this isn’t hype, I discovered myself on the primary stage sharing a chat on The Psychology of Loyalty on the opening day.
My speak adopted a gracious welcoming message from Prof. Janusz Filipiak, the founder, CEO and President of the Administration Board of Comarch SA and a sweeping deal with from Aleksander Kwaśniewski, the elected President of Poland, who served two successive phrases from 1995-2005.
Following these two spectacular gents, I questioned if my message for the group was worthy of the positioning on the agenda. However I answered that query rapidly, as I noticed that my goal was to assist over 500 individuals gathered for this first-class occasion perceive extra about “Why Folks Purchase”.
“Why Folks Purchase” is the deepest of questions that intrigues, perhaps confounds, entrepreneurs worldwide. If we actually understood the intricacies of how individuals make buy choices, we may race to our aims extra rapidly, by means of data-driven promotions and provides that set off shopping for with the with the identical reliability and conditioning as a Pavlovian experiment.
We do the most effective we are able to as entrepreneurs, utilizing huge information shops and sensible know-how to attach with our prospects, however we all know that direct solutions that result in repeatable outcomes are not often achieved.
The webinar deliberate by the Sensible Marketer together with Comarch Loyalty Advertising gives you a seat in the course of this dialogue, with out the lengthy aircraft trip to Poland.
The webinar is titled “How Do You Create Moments of Magic in Retail?” and I’m wanting ahead to internet hosting an skilled panel to discover the Psychology of Buyer Loyalty extra deeply and construct on the concepts shared at CUG in Might. Signal-ups can be found now for this webinar, and you may study all you want about this distinctive occasion: Register right here.
The group now we have gathered as panelists contains:
- Christopher Sandstrom – Director of Technique & Development Americas, Comarch
- Phil Rubin – the founding father of Gray Area Issues, a customer-focused strategic development agency
- Yuping Liu-Thompkins – Professor of Advertising and Director of Loyalty Science Lab, housed inside Outdated Dominion College in Richmond, Virginia
Every of our panelists has a definite expertise set and operates in several, however adjoining components of the client loyalty discipline:
- Chris is a potent enterprise growth skilled and is most significantly a wise and skilled strategic advisor to notable manufacturers served by Comarch.
- Phil’s loyalty legacy originated in founding of the one of many early frequent flyer applications alongside working a strategic planning company for a few years, serving American Specific, Nike, the Pittsburgh Steelers and extra.
- Yuping is the steward of one of the vital trusted suppose tanks centered on Buyer Loyalty. The Sensible Marketer has revealed papers from the Loyalty Science Lab and the Loyalty VAULT, a favourite advantage of the Loyalty Academy’s CLMP™ group.
Collectively, that is an attention-grabbing group that I personally like to check concepts with any likelihood I get. For that motive alone, I hope you’re compelled to affix us on June 21 for this dialogue of “Why Folks Purchase”.
If you wish to come ready for this dialogue, there may be some essential background data that can assist you pose the correct questions for the panelists. Did you notice that lots of the finest practices that inform technique within the international enterprise of Buyer Loyalty are primarily based on “tribal data”?
Tribal data on this case, means experiential knowledge that has been handed down and shared by practitioners over the previous twenty years. The ideas are working however we don’t know precisely why. That’s as a result of we don’t actually understand how these finest practices are rooted or sourced, and due to this fact can’t all the time validate the collective fact of those finest practices.
The Loyalty Academy™ got down to discover the reality about these finest practices a number of years in the past and we discovered the solutions by means of the examine of behavioral psychology and human habits concept.
Principally we all know that the majority people are pushed by the three pillars of Self Dedication Idea: Autonomy, Competence and Social Relatedness We have now established clear hyperlinks between every of those pillars and necessary developments in Buyer Loyalty as we speak. Within the webinar, we’ll share examples of Goal Pushed Advertising, Gamification (Deep Engagement) and Group – perhaps much more.
We have now model examples that illustrate the connection factors between Self Dedication Idea and these driving developments within the enterprise and can add views from every of our panelists to introduce new concepts.
We additionally know that a number of strategic components of loyalty program designs work as a result of they mirror the findings of BF Skinner’s work within the 1950’s, aligned with analysis on Idiosyncratic Match, the Endowed Progress Impact and Loss Aversion.
How Do You Create Moments of Magic in Retail is not going to disappoint, and I hope you’ll be a part of us on June 21 at 10am Jap Time within the US. You possibly can register right here. Within the occasion you may’t be a part of us on the day, The Sensible Marketer may have a recording of the dialogue accessible on its web site the next week.