We all know the famous saying, “if it’s not broke, don’t fix it”. That saying can be used as an expression for just about anything, including a brand. When we look at billion dollar brands like Apple, many consumers who are not Apple users may wonder, what is the hype? However, with most Apple users, the loyalty runs so deep and Apple has yet to do anything to break that bond, hence, “if it’s not broke, don’t fix it”.
Brand Loyalty
As marketers, when working with our clients, another aspect that tends to fall under our umbrella is helping them create their brand identity and brand loyalty. Brand loyalty can be easily defined as the tendency for consumers to continue purchasing the same brand of goods over the competing brand.
We see fine examples of Brand Loyalty with frequent fliers, consumers who consistently fly JetBlue over American Airlines or fitness goers who prefer Nike over Adidas, brand loyalty matters. Not only does Brand Loyalty help you to keep the business of your current consumers, but creating and maintaining these relationships tend to help the overall success of your clients’ business or brand. How does one exactly build brand loyalty? A few essentials include: providing excellent customer service, asking for feedback/reviews, building a community and starting a loyalty program.
Loyalty Building
Let’s dive deeper, you have one group of people who love Brand A, they tell everyone around them how amazing Brand A is, what they love about Brand A and exactly why Brand B just does not cut it; this is an example of Brand Loyalty. With Brand Loyalty comes loyal customers. Your loyal customers are your best marketers’. Not every advertisement requires a budget, a simple word-of-mouth goes a long way. A brand’s loyal customers help marketers by providing primary research through testimonials, reviews, case studies and even events. According to a study published by Twitter and Annalect, 49% of consumers get their recommendations from influencers and about the other half rely on recommendations from friends and family; basically consumers buy from people they trust. Along with that trust, comes loyalty programs. 75% of United States companies with a loyalty program are seeing a return of their investment, says Experian. In the U.S some of the most successful loyalty programs are Starbucks, Bath & Body Works, Target and Sephora. The key is to engage with your customers, keep them feeling valued, included and appreciated. Oftentimes brands’ focus on gaining new consumers rather than maintaining the ones they have.
Love & Loyalty
All in all, when a consumer loves what they love, they keep coming back for more. As Orlando Espinosa would say, “customers are the lifeline of your business”. As a brand and company, you have to prioritize the relationship building with your customers in order to form brand loyalty and maintain the success of your business. What advice will you provide to your next client in order to get the ball rolling? What can they implement to strengthen their brand/customer loyalty? For more information and tips on identifying your perfect consumer, please visit www.sociallyelleco.com
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