A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article on how brands can amplify their customer retention strategies for Gen Z consumers. This article highlights the key tactics that businesses must include in their customer retention program in order to win over Gen Z consumers.
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Customer retention strategies for Gen Z consumers (Graphic: Business Wire)
Gen Z refers to the group of population who were born in the years ranging from 1995 to 2010. This generation is known to be the true digital natives as they have been exposed to the internet, social networks, and mobile systems from the earliest stages of growing up. When making purchase decisions, Gen Z consumers tend to value individual expression and avoid labels. They are also believed to make decisions and relate to companies in highly analytical and pragmatic ways. As this group of consumers are nuanced and highly complex, tried and tested customer retention strategies often fail to win the loyalty of these young and powerful consumers.
The increased access to technology has given young consumers an unprecedented degree of connectivity. For brands, this trend will bring both challenges and equally attractive opportunities. Request a free proposal to know how our experts can help you identify market opportunities and build better customer retention strategies.
Customer retention strategies for Gen Z consumers
Invest in loyalty programs
Forward-thinking brands must consider investing in customer loyalty programs. Otherwise, sectors including media, retail, beauty, and CPG are at high risk of losing customers to their competitors. When compared to millennials, Gen Z is more likely to be loyal to brands that have loyalty programs.
Formulating customer retention strategies for Gen Z customers is much more complex when compared to millennials or Gen X consumers. Get in touch with our experts to know how Infiniti's customer retention solution can help you identify strategies to attract and retain different customer groups.
Be where the customers are
Gen Z is known to be highly active on social media and other digital channels. So, customer retention strategies of brands must be based around these platforms. Gen Z consumers are also equally active offline. They expect to be able to check the availability of in-store products online and vice versa. These consumers are more likely to research a product before actually making the purchase. By investing in customer retention strategies like loyalty programs, brands can incentivize consumers across different channels.
Rewards for spend and engagement
Creating value by rewarding both spend and engagement is a highly attractive customer retention strategy. Brands must ensure that their reward for spend strategy is frictionless across multiple channels. Such tactics are highly effective as they not only ensure customer engagement, but they also make things more convenient for customers.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us
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