The CMO Club and Catalina Provide In-Depth Look at Brand Strategies,
Priorities and Opportunities During Unprecedented Time
With consumer lifestyles, behaviors, and habits continuing to dramatically shift as ongoing COVID-19 concerns grip the world, marketers need to swiftly adapt to engender brand loyalty, per The CMO Club’s latest CMO Solution Guide produced in thought leadership with buyer intelligence leader Catalina: “Improving Loyalty In The Era of Brand Promiscuity.”
According to the survey, the pandemic has led marketers to massively re-evaluate their entire approach to business as they grapple with which messages best resonate with consumers sequestered at home around the clock and whether the usual media channels were still reaching them effectively. They also focused on how buying habits would change, what new behaviors could be sustained, and what new opportunities are emerging.
Among the study’s key findings:
- Loyalty is a highly valued Key Performance Indicator (KPI), with 47 percent of CMOs saying they both measure and value it. Another 34 percent underscored how much they value loyalty.
- Brands are focusing on their most loyal market segment(s). With 78 percent of marketers believing their most loyal age group will not change in the next 12 months, the strategies and campaigns that they are developing focus on the best channels and programs to grow customer loyalty. Citing a concerted effort to build more meaningful connections with their loyal customer base, 67 percent of marketers now consider advocacy and education programs to be the most valuable.
- Marketers are laying the groundwork for future generations of loyal customers. Even though they don’t anticipate their most loyal age group changing anytime soon, brands are taking steps to forge emotional ties that will foster loyal customers in the future. Nearly 68 percent of respondents say they have adopted specific strategies to address millennials/Gen Y (1977-95) and Gen Z consumers (1996-2010).
- Brands are finding new ways to connect on a deeper, more personal level with their loyal customers. They are watching their consumers’ behavior closely and developing new programs, campaigns, and strategies to meet customers wherever they are heading, with the majority of marketers placing incremental dollars to engage loyal customers in three areas: digital (73 percent), content (67 percent) and social (64 percent). More traditional avenues in pre-COVID times have dropped dramatically, with virtual events sponsorships cited by only 36 percent and TV a mere four percent.
“Even millennials, who have traditionally not been a loyal age group–with centennials even less so–are looking to brands to lead and be a source of truth, or at least a source of comfort,” said Marta Cyhan, Catalina CMO. “Even so, millennials expect brands to prove that they understand their motivations and explain how their product can benefit their lives.”
According to Pete Krainik, Founder and Global Head of Engagement of The CMO Club, “In times like these, a marketer’s role has never been more vital to a brand’s success. This latest study was designed to help them get a better grip on where consumer loyalties lie, how to keep their buyers engaged and how to create new loyalists out of promiscuous consumers whose lives – and buying behaviors – have been upended by the pandemic.”
The CMO Club’s latest Solution Guide resulted from a quantitative survey of nearly 70 chief marketing officers (CMOs) across a wide range of business to business (B2B) and business to consumer (B2C) organizations, along with in-depth interviews with marketing and business executives from leading and emerging brands including Michael Shoretz, CEO of Beyond Better Foods; Frances Perrin, CMO of Chateau Ste. Michelle Wine Estates; Cindy Hess, VP of Marketing, La Terra Fina; Danielle Vona, CMO of Outback Steakhouse; Andrea Adegas Faccio, CMO of Purina Pet Care and Guillermo Plasencia, Global CMO of wefox.
Download the full CMO Solution Guide here.
About The CMO Club
The CMO Club is a community for heads of marketing to come together, share ideas, be inspired, and solve their toughest challenges in an exclusive, candid and trusted environment. Tailored exclusively for top marketing executives, the club prides itself on being the most innovative and engaged community of senior marketing leaders in the world. Membership is 650+ CMOs strong and growing, representing both B2B and B2C brands, with Chapters in over 30 cities across the globe. Fueled by dynamic peer-to-peer problem-solving, inspirational and educational events, and insights into the latest marketing trends and cutting-edge innovation, the CMO Club is the place to be for the world’s top marketing executives. For more details, please visit www.thecmoclub.com.
Catalina is the market leader in shopper intelligence and highly targeted in-store and digital media that personalizes the shopper journey. Powered by the world’s richest real-time shopper database, Catalina helps CPG brands, retailers and agencies optimize every stage of media planning, execution and measurement to deliver $6.1 billion in consumer value annually. Based in St. Petersburg, FL, Catalina has operations in the United States, Europe and Japan. To learn more, visit www.catalina.com or follow @Catalina on Twitter.