Why Priming Bias Is Essential To Boost The Loyalty Of Customers?
- Posted on March 18, 2023 by Robert
- Reading time about 5 minutes
Are you struggling to attain profitability with your business? If you want to do a more profitable business, then it is essential to focus on improving the loyalty of your customers. Do you know it costs five times more to acquire a new customer than it costs to retain an existing one? Therefore, it is a clever idea to start working on increasing customer loyalty.
Cognitive biases can easily influence the everyday decision-making process. When integrated well within the loyalty programs, it helps businesses in making split-second decisions for the customers and capitalizes on opportunities. In this article, we will discuss how priming bias boosts the loyalty of your customers in the landscape of changing customer loyalty.
What Is Priming Bias?
Priming has been extensively studied in cognitive psychology for its exposure to a certain stimulus that influences the pervasive influence of human behavior. Priming biases are extensively used across marketing and loyalty programs to influence brand perception and member engagement. In addition to priming, there are a number of other applicable behavioral biases in loyalty psychology which have been used to great success.
Customers easily get influenced by subconscious factors like- taste, smell, images, words, etc., and can even feel the products. Apart from that there are many other stimuli that can easily enhance the response of a person based on their decisions. When integrated well within your eCommerce loyalty programs then it can make a lot of difference.
The Changing Landscape Of Customers Loyalty
In the last few years, loyalty marketing has changed to a great extent. Rapidly declining customer attention span due to an increase in the number of digital platforms and relevant content has reduced the customer loyalty rate. Although the expectations of customers have also increased from the lower and mid-level organizations. COVID-19 has also subsequent market conditions and disrupted the consumer landscape by enhancing the ready availability and improving the needs and demands of their needs from acquisition to retention efforts.
The shift from transactional loyalty to emotional loyalty has played a significant role in the sales and performance of brands. That is why many brands and businesses are integrating gamification, AI (Artificial Intelligence), and Big Data to track and analyze the shopping behavior and needs of customers. Thus, eCommerce loyalty programs with customer points system have influenced the changing customer behavior. Businesses are adopting the latest trends and integrating programs relevant to changing customer behavior and time spent on digital platforms.
How To Use Priming Bias To Endear Customers Loyalty?
Priming Bias For Brand Promotion
Loyalty software for small business helps you in understanding whether your member will respond to your brand promotion or not. We humans need points that can help us in saving more while purchasing with a brand or business. The customer points system helps brands and businesses to offer bonus promotions, and promote discount offers to increase the effectiveness of loyalty programs.
Priming Loyalty With Labels And Colors
Highlighting the customers’ interaction with your brand can easily enhance the loyalty of customers. When they interact with you regularly then you can use their profile as a status tier with your brand. Label their profile on the basis of the time period and expenditure or transaction. Labels like- Bronze, Silver, Gold, Platinum, and Diamond and specify the percentage of customers in each tier invoke an excellent value and deliver a status symbol when they interact with your brand.
Membership Status For Enhanced Loyalty
Customers love it when they get priority while shopping with your brand or business. eCommerce loyalty programs highlight customers’ membership status and deliver a greater sense of belonging and customer satisfaction to members when compared with non-members. Simply labeling customers and categorizing them can strongly influence the behavior and loyalty of customers.
Influence Customers With Deals And Rewards
Priming your customers with the exclusive deals and rewards builds a profound sense of loyalty. When they realize that they are consistently getting better deals and offers on similar products then they are more likely to be loyal to your brand. Loyalty software for small business helps you in anchoring specific forms of priming by referencing several points to influence recommended option.
Suggestions For Decision-Making Process
eCommerce loyalty programs when primed for decision making process then it can provide customers with suggestions and targeted options. It helps brands to strategically place suggested products alongside commonly purchased products within personalized communications. This helps the customers to purchase more products and helps them in the decision-making process. Always introduce the higher price first and the lower price is anchored to it and seen as a bargain.
Achieve Loyalty Through Prime Bias
In marketing and in loyalty programs, there is nothing like expecting consistent loyalty with the customers while delivering them better experiences. Sometimes customers exhibit them and sometimes they do not therefore, priming bias in your loyalty program strengthens your goal and builds a relationship with customers that feels natural and comforting.
Are you interested in achieving loyalty through emotional bonds? Novus loyalty is next-gen, cloud-based loyalty software for small business that provides the platform to test your ideas and build amazing customer engagement opportunities. Talk to our expert and learn more about our loyalty program software.