Businesses should offer flexibility in their consumer experiences to gain loyalty.
This piece argues that due to global health and economic crisis, customers are shifting to digital channels during lockdowns. Investing in digital strategies, content partnerships and embracing technologies like virtual reality can help businesses satisfy consumers’ needs while they are at home.
Marketers can reduce trial barriers and encourage try-at-homes models to increase purchase probability. Businesses can discuss with their marketing finance team to figure out ways they can offer free trials to their customers before making a purchase.
Incorporating digital tools for older purchase models like “cooperative buying” that allows different consumers to buy a product together can help brands successfully survive the crisis. Brands can also adopt “option-to-purchase” buying model that lets consumers rent an experience before buying it.
[3 minute read]