TheCustomer’s Post

I love this study for two reasons. 1) Brand loyalty is fickle and you need to stay on top of it or you're toast. 2) It forces us/you to look beyond your known competitors to understand how your customers are forming expectations that are and will absolutely affect your relationship with them. 3 cheers to Robert Passikoff and his team at Brand Keys, Inc. https://lnkd.in/eDcV55RT

Somebody on LinkedIn recently posted a mention of "How Brands Grow", a book written by Byron Sharp and published in 2010. I read a preview, downloaded it immediately, and dug in over the weekend. This book has many hot takes, but one has been top of mind amongst clients and colleagues. "Brand loyalty is often overestimated. Most customers are promiscuous and willing to switch brands." Acquisition vs. Retention is a DTC hot topic. Usually, you're meant to focus on the area you're doing less of in the demand for owning the customer experience every step of the way. But I've been thinking a lot about my personal use (or lack thereof) of loyalty programs to drive my affinity. Many of my absolute favorite brands right now didn't exist five years ago, and some of my favorite brands five years ago have been waiting to hear from me for many months. So what is driving your brand loyalty? It is distinctness (Liquid Death edgy marketing and endless wit), is it increased availability (more cookie drops from Last Crumb than ever before), or perhaps word of mouth coming from the thousands of people talking about Logan Paul and KSI's PRIME? What legacy brands have maintained your loyalty over the years, and why? Is it ever a points-based or access program that has gotten you there?

Building Brand Loyalty: Insights from the Forbes Experts We often ask ourselves what matters most: the product itself or the audience that perceives it. No doubt, getting customers to commit to your brand is crucial. So, how do you earn their trust and keep them coming back? So, here're some key findings on how to foster lasting brand devotion: 1. Transparency is Key: 94% of consumers would be more loyal to brands that practice transparency, while 56% claim that brand transparency would make them "loyal for life." 2. Align with Values: 82% of shoppers want brand values to align with their own, making them more inclined to shop based on their value system than ever before. 3. Exceptional Customer Service: A pleasant experience with a brand is a surefire way to get a shopper to feel recognized and important to your company, increasing the likelihood of referrals and loyalty. 4. Advocacy is Crucial: Encourage and facilitate advocacy through referral programs, as those who naturally talk about your brand can sign up to earn perks based on how many people they introduce to your brand. 5. Metrics Matter: Overlooked metrics like likelihood to repeat purchase, customer sentiment, and trust underline the health of your relationship with your customer and are essential for building brand loyalty. After all, building brand loyalty is a delicate balance of excellent customer experience and dedication to honesty. By prioritizing transparency, aligning with values, providing exceptional service, fostering advocacy, and tracking key metrics, you can achieve sustainable, consistent growth and keep your customers coming back for more. #BrandLoyalty #CustomerExperience #Transparency #ValueAlignment #ExceptionalService #Advocacy #MarketingStrategy #PR

Cultivating Brand Loyalty: The Power of Peer-to-Peer Interactions and First-Party Data in Retail https://hubs.la/Q02pQ4-c0

Are businesses caught in a Catch-22? As brand loyalty fades and positioning lines blur due to shifting consumer behavior and competitive market, can companies afford to neglect these fundamentals? Or is it a risky gamble? Time to reflect. #BrandLoyalty #BrandPositioning #ConsumerBehavior #MarketingStrategy

"While discounts and promotions can provide a temporary boost in sales, their long-term sustainability is questionable. Not only do they decrease revenue, but they also don't necessarily foster genuine brand loyalty... Brand loyalty is more than repeat purchases; it signifies a deep-rooted emotional connection between a customer and brand." Read "A Recipe For Building Brand Loyalty In A Competitive Market" at https://bit.ly/3HbhWD3. #BrandLoyalty #BrandAwareness #BrandMarketing #TeamShelten

"Brand awareness helps customers recognize and think about your brand. When they’re hungry, they think of Big Macs at McDonald’s. When they’re thirsty, they think of Coke. When they need to rent a moving truck, they think of U-Haul. That’s brand awareness in action. But how do you go from an anonymous brand to an integral part of your ideal customer’s thoughts, wants, needs, and behaviors?" Read "10 Ways to Increase Brand Awareness without Increasing Your Budget" at https://bit.ly/3IOHZz6. #BrandAwareness #BrandMarketing #DigitalMarketing #TeamShelten

Marketers that get these aspects of brand loyalty right will find the loyal customers they need to succeed.

Want to grow your brand loyalty in 2024 and beyond? Check out our latest feature from Julianne Manoogian for The Drum to learn how to strategically adapt to evolving shopper expectations and scale successfully: https://bit.ly/47Z2nsL

Brand loyalty drives growth, market share and profits. When customers become loyal to a brand, they make repeat purchases and also recommend the brand to others, becoming brand ambassadors. In a world with abundant choices, brand loyalty is a sustained source of competitive advantage, nurturing customer stickiness and growth.