Brand Loyalty – Why Does It Matter and How to Build It?
Brand loyalty is the trust and preference that a customer has for a brand. This can make the customer purchase the brand’s product over other similar products offered by the competitors. This happens when the customer has an exceptionally positive experience with the particular brand. Brand loyalty is the dream of every business owner but it is very rare to come across. We as a digital marketing agency would like to emphasize on the importance of building brand loyalty with customers.
What Is Brand Loyalty?
People would argue that constant improvisation is the answer rather than brand loyalty. But the point here is these two should work in tandem for a business to be successful. You cannot rely only on the quality of the product for maintaining the customer base.
Apple is a perfect example that demonstrates the importance of brand loyalty. What makes Apple so popular and preferable? Apple, right from the start, focused on building a loyal customer base. Simplicity and top-notch customer service have always been their motto and the brand lives by it. Also with time, they have associated their product with pride and now we see people flaunting the Apple logo.
This right here is brand loyalty. Despite the high price and other concerns, we see iPhone models selling like hot cakes right after the launch. Customers loyal to the brand pave the way for success. Securing a connection with the customers and satisfying their expectations is the key to brand loyalty.
Why Is Brand Loyalty Important?
For the long-term success of a brand, it is important to have loyal customers. According to a report from HubSpot, 93% of the customers are ready to repeat purchases from a brand to which they are loyal.
Imagine a customer trying to get a product. He/she doesn’t find that particular product in the store but finds a similar one. The logical thing to do is to get a similar product and call it a day. But if a customer is loyal to your brand, they do not get a substitute but travel to multiple stores to find the product of the brand to which they are loyal. There is an emotional connection that makes the customers relate the particular brand with satisfaction.
These customers also do free word-of-mouth marketing for the brand which is an additional benefit for the brand. There is a reason why people read reviews before trying a product and hence these recommendations only increase your customer base.
Brand loyalty increases the chances of your brand’s survival even during micro or macro-environmental factors. Brand loyalty can act as a shield during unprecedented times because the customers trust your brand.
Also Read: What are brand pillars, and why do they matter?
How to Build Brand Loyalty?
As mentioned before, brand loyalty is coveted by many but possessed by only a few. Brand loyalty pushes you to be better for your customers while also providing you with the strength to try new things. Here are some ways by which you can build brand loyalty for your business.
Make Your Product Top Quality
Despite all, the foundation for brand loyalty depends on the quality of the product/service you offer. The customers become loyal to a brand when they receive exceptional results but the business has to continue giving top quality services in the future too.
About 40% of the customers attribute their loyalty to a brand to the high quality of products offered. Even if the customers have a tight budget, they are ready to spend more when the quality is great.
If you are aiming to build brand loyalty, start by perfecting your product. Learn the needs of the customers and deliver them at a reasonable price.
Connect with Your Customers
One main feature of brand loyalty is the emotional connection of the customer with the particular brand. The customers should feel a sense of belonging for them to stay happy and loyal to the brand.
Create social media accounts to regularly be in touch with the customers. Post regular updates about the upcoming events, offers and more. Make sure that you remain in the minds of the customers.
Starbucks is one of the brands with a solid customer base. This is due to the ease of availability along with exceptional customer service. Another small thing that makes the brand distinguishable is that they write the names of the customers on the coffee cups. This is a simple but effective strategy since what is more personal to a person than his/her name?
Personalize Your Marketing Efforts
Apart from the product, many things affect a brand’s success, and one among them is the brand personality. Customers value human touch and would rather not have bots answering their questions. Build a personality for your brand and keep engaging with the customers.
Nike is a great example of a brand having a commendable personality. Nike takes on social issues to make people relate to their product and their ads are well-made. While watching these ads, the customers can connect with the brand which in turn retains and builds a customer base.
Make Customers Come Back
The uniqueness of your product is what drives the customers back to the brand. But in this fast-paced world, there is a substitute for everything and you cannot rely only on the quality of the product. Invent referral programs and similar ideas which can make the customers come back for your product.
Circling back to our Apple example, you must have heard the phrase “Once an Apple user, always an Apple user.” The unique build and features of the iPhone make it hard for Apple users to switch to the Android versions. Here, the uniqueness comes into play.
As for Starbucks, coffee and refreshment drinks are easily available commodities. To keep customers coming back, Starbucks has a loyalty program called “My Starbucks Rewards” for their repeat customers.
It is natural to gain criticism but the way you react to it matters. Practice replying politely to complaints and rectifying the ones that you can. When the brand is known for good and polite customer service, brand loyalty comes immediately.
LBN Tech Solutions
As a digital marketing agency, we know the importance of brand loyalty and how vital it is for small businesses. We can help you with the content creation and marketing aspects of building brand loyalty.
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