How to Use Loyalty to Your Advantage in Uncertain Times

By now, it is more than evident that we have once again entered a period of downturn. Everyone is yet again talking about economic recession. We are entering uncertain times and you will surely have concerns about how this may affect your company or your brand. However, while this may cause you to feel uneasy, it is important to be prepared –a lesson learned from previous crises- and to see these periods of a downturn as opportunities.

That is why today we are discussing how to use loyalty to your advantage in the current times. Loyalty is a powerful tool for your organization and for your brand, which takes on even more strength in times like the financial recession 2022.

So, how to get the most out of it in the coming months?

1. Make sure you lead by example and be loyal to your customers

Instead of obsessing over attracting new customers, shift your focus to your existing ones. Do not forget that if you expect loyalty from them, you must also be loyal to them. Listen to their needs and respond accordingly by offering them value with your loyalty program.

This will be beneficial for your business in times of economic downturn, as it is much easier to sell to an existing customer (60-70%) than to a new one (5-10%). You will optimize your efforts and they will be more profitable.

2. Work on the emotional connection with your loyal customers

That emotional connection is what keeps them coming back. So take advantage of these uncertain times to work on that bond. How? By talking to your customers, spending time getting to know them and understanding their needs, and personalizing their experience with your brand or company.

You need to create a connection beyond a transaction, and make your brand known –its values, what matters to you- beyond a product. Because, especially during a crisis, it is easier for customers to rely on what they already know, trust, and appreciate.

If you want to know more details on how to achieve this, you can check this article on the importance of e-mail marketing for loyalty programs or this article on how to retain customers with your loyalty program.

3. Make sure your customer service meets your loyal clients’ needs

This is the best time to reinforce your customer service. Good, diligent answers to their questions, and helpful assistance in times of doubt, will contribute to building brand loyalty.

There are many different ways in which this good customer service can be provided: sometimes it is only necessary to provide a guide on how to book accommodation, and sometimes it takes an agent to solve a question step by step. What matters most is serving customers and addressing their needs appropriately.

At Inspira, great customer service is one of our pillars. Our travel loyalty programs are supported by best-in-class customer service, which has proven to be very efficient in personalizing the customer experience, creating a connection with them, and, in short, building loyalty.

4. Audit your loyalty program

And, last but not least, take this opportunity to audit your loyalty program. Review your strategy and ask yourself what your goals are and whether your loyalty program is working to achieve them. What do you want to achieve? What do you offer your customers? Does what you offer bring them value? What feedback do you receive from them? What impact has your loyalty program had on your business?

Find where you can improve and reinforce everything you are already doing well to come out of this recession with an improved loyalty program and a strengthened, rather than weakened, brand.

At Inspira Holding, we are expert travel loyalty providers, and we can help you review and improve your loyalty program to make it work for you and your business. You can check out our loyalty solutions here and, if you have any questions, feel free to contact us here.

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Visit www.inspiraholding.com for more details about our solutions, brands, partnerships, and more!