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Driving customer connections during challenging times.
A guide for businesses on attracting and retaining customers in the current cost-conscious climate.
You don't have to look far to see that prices are rising across just about every supply chain in the country, having a huge knock-on effect on consumers and resulting in a cost-of-living crisis across the nation. Rising prices were already causing many people to scale back their spending and shop around for cheaper options.
Are consumers expecting the impossible? What could brands do differently? And how can businesses tailor their customer retention strategies during these turbulent times we find ourselves in?
Our report takes a deeper dive into these pressing questions, and offers a few tips for businesses and marketers on how to navigate the increasingly cost-conscious climate we're in – and we're not just talking about knocking down prices…
You don't have to look far to see that prices are rising across just about every supply chain in the country, having a huge knock-on effect on consumers and resulting in a cost-of-living crisis across the nation. Rising prices were already causing many people to scale back their spending and shop around for cheaper options. Chuck materials and ingredients shortages into the mix – two things stopping businesses from meeting their demands – and you've got a very tricky situation that only seems to be getting worse.
Steering through the current climate and building meaningful connections with customers has never been harder for businesses. Take a look at our research; we found that almost a third (31%) of UK consumers say rising costs are impacting their loyalty to the brands they usually purchase from, and a further 31% can no longer afford to buy from all of the brands they have been loyal to in the past. And to go and make matters worse, close to two-thirds (65%) of marketers have had their budgets cut in line with rising costs across the business they work for.
Are consumers expecting the impossible? What could brands do differently? And how can businesses tailor their customer retention strategies during these turbulent times we find ourselves in?
Our report takes a deeper dive into these pressing questions, and offers a few tips for businesses and marketers on how to navigate the increasingly cost-conscious climate we're in – and we're not just talking about knocking down prices…
You don't have to look far to see that prices are rising across just about every supply chain in the country, having a huge knock-on effect on consumers and resulting in a cost-of-living crisis across the nation. Rising prices were already causing many people to scale back their spending and shop around for cheaper options.
Are consumers expecting the impossible? What could brands do differently? And how can businesses tailor their customer retention strategies during these turbulent times we find ourselves in?
Our report takes a deeper dive into these pressing questions, and offers a few tips for businesses and marketers on how to navigate the increasingly cost-conscious climate we're in – and we're not just talking about knocking down prices…
Driving customer connections during challenging times.
A guide for businesses on attracting and retaining customers in the current cost-conscious climate.
You don't have to look far to see that prices are rising across just about every supply chain in the country, having a huge knock-on effect on consumers and resulting in a cost-of-living crisis across the nation. Rising prices were already causing many people to scale back their spending and shop around for cheaper options.
Are consumers expecting the impossible? What could brands do differently? And how can businesses tailor their customer retention strategies during these turbulent times we find ourselves in?
Our report takes a deeper dive into these pressing questions, and offers a few tips for businesses and marketers on how to navigate the increasingly cost-conscious climate we're in – and we're not just talking about knocking down prices…