Everything You Need to Know About Australian Customers & Tips to Boost Loyalty
- Posted on September 18, 2023 by Robert
- Reading time about 6 minutes
Living in the highly competitive business landscape, customer retention, and loyalty play a main role for brands looking for long-term success. This is especially true for customers in Australia who have higher expectations than ever. Loyalty strategies that worked years ago may not work for today’s customers.
To win Australian customers ‘hearts, it is crucial to understand what keeps them coming back. For the same, we have conducted thorough research into the state of customer loyalty in the country. If you are planning to build a reliable Customer Retention Program in Australia, you must go through this blog first to learn about the new findings and get insights on how businesses like yours can improve your loyalty program for enhanced customer retention.
What Australian Customers Look for in the Brands?
As Australian customers seek more value and exceptional experiences, brands must make use of the right approach and prioritize retention to grow and thrive in this competitive business era. Ensure that you gain a deep understanding of what your customers want before building the Australian Loyalty Program.
· Customer Retention in the Age of Distraction
As the Australian landscape witnessed significant changes such as supply chain delays, inflation, increased prices, and more, customers’ disposable income has been impacted.
The survey was conducted on more than 1,000 Australian consumers across different age groups and generations to understand their views on loyalty and retention, which reveals that loyalty is not dead but has changed to meet evolving needs. They are willing to stay loyal to brands that meet their expectations & offer exceptional experiences.
· Go Beyond Transactions & Offer Value
Price sensitivity among customers has increased with the rising cost of living and they now carefully evaluate the value of each purchase, which leads to shifting brand loyalties. Brands today must focus on offering more than just competitive prices to retain customers.
Another research states that more than 50% of Australian shoppers wish to buy from the same brand, but this number has lowered as compared to earlier years. That is why, brands must go beyond transactions and provide value to win customers’ hearts.
· Build Customized Loyalty Programs
Another aspect is to craft an effective loyalty program that plays a huge role in fostering customer retention in Australia. More than 40% of Australian shoppers just signed up for brands’ loyalty programs to demonstrate their loyalty offerings.
Ensure that you build loyalty programs that provide value to customers focussed on offering perks, points, and personalization to enhance the brand experience. Successful brands are the ones that have loyalty programs delivering significant ROI, increased revenue, purchases per customer, and average revenue per customer.
· Offer Exceptional Post-Purchase Experiences
To ensure stronger customer bonds for a long time, brands must offer post-purchase experiences after the order is completed, which is critical in shaping customer loyalty. Another study shows that around 53% of Australian customers consider poor customer service as the main reason for losing loyalty to the brand, which shows that they value good customer service and effective communication more than anything.
Brands must strive to provide personalized and relevant communications to customers, as excessive messaging can be considered spam. Focus on offering timely and relevant information such as updates on shipping, order status, etc. which help contribute to a positive post-purchase experience.
· Long-Term Approach to Retain Aussie Shoppers
Brands must focus on main themes – personalization, relevancy, and added value to win customers in the Australian market. For this, they must create holistic profiles of their customers and deliver customized experiences at every touchpoint.
For instance, we can consider the success of LSKD, an Australian activewear brand that has implemented loyalty programs considering the CAC and increased competition. The programs prioritize creating a single view of the customer enabling them to engage with their shoppers more often & increase efforts of their retention strategy.
What We Can Learn From LSKD’s Success with Loyalty Programs?
The brand LSKD’s successful approach to winning customer retention acts as an excellent example for other Australian brands. That is why, it is crucial to understand the importance of building two-way relationships with customers at every touch point, which has been the main advantage for LSKD’s brand identity.
If you are planning to launch a loyalty program in the Australian market, you must leverage the power of SMS marketing, reviews, etc. to boost the re-engagement of loyal customers and increase repeat purchase rates. LSKD brand used the same approach to transform the customer journey and foster genuine engagement helping them achieve a great repeat purchase rate of 83%.
Embrace the power of effective loyalty programs to boost a brand’s customer lifetime value from redeeming customers. Here are some of the main aspects to consider while building an Australian loyalty program-
· Personalization & Relevancy
After going through the section above, personalization and relevancy are key factors to consider especially for Australian customers’ loyalty and retention. Customers now expect the brands they associate with, to understand their preferences and provide customized offers & recommendations.
Research says that 50.87% of customers in Australia consider excessive messaging as the most disturbing and negative post-purchase experience, which can even lead to a permanent goodbye for the brand. That is why, keeping focus on delivering communications that are personalized, timely, relevant, and aligned with customers’ preferences to help promote a positive brand experience.
· Add Value to the Customer Experience
Another thing that Australian customers appreciate is the added value in their interactions with the brands. Loyalty programs must offer rewards such as early access to sales, free shipping, exclusive gifts, and more, which can significantly impact customer retention.
Going beyond discounts and focusing on delivering exceptional customer service is the key to building exceptional customer experiences that keep customers coming back.
To meet changing customer needs, Australian brands must focus on taking quick actions to adapt their loyalty strategies. By developing tailor-made loyalty programs that focus on personalization as well as relevancy and delivering top-notch experiences after purchase, brands can achieve long-term customer bonds.
Novus is an all-in-one Enterprise Loyalty Management Software that enables several Australian brands to build loyalty solutions that not only retain customers but also boost revenue. To elevate your loyalty program to new heights and make your Australian customers keep coming back to your brand, connect with our loyalty experts today!