Brand Loyalty- Myth or Reality?
Are you loyal to your go-to brand? Do you go back to your favorite brand when you think of buying a product? Maybe yes, maybe no.
But majorly we believe the answer would be no.
In today’s world when people have infinite options and the consumers are ready to try new products, brand loyalty has become questionable.
Let us start by answering how a person defines Brand Loyalty.
Is it buying the same brand's product over and over again?
Or paying a little extra to buy your favorite brand's product over competitors?
Or just that immense love for the brand?
Well, all of them can be true, but Customer loyalty has undergone plenty of changes in the last few years. With advanced technology, tech-savvy customers are more prone to shift to the brand which gives them more benefits, utility and higher customer satisfaction.
But the good news is if served right your customers will always be loyal to you and will never go to your competitor, let us understand how:
1. KNOW YOUR CUSTOMERS- It may require your time, money and efforts but the results will be tremendous. Knowing your customer will help you serve them better.
2 PAY ATTENTION- You must pay attention to your customers needs/wants and try to meet those expectations. Also pay attention to what your competitors are offering.
3. ENGAGE WITH YOUR CUSTOMERS- There should always be a conversation between you and your customer to build that trust. Social media engagement is a must in today’s digital era. Talking to the customers is the best way to know about them.
4. BE CONSISTENT- Customers want the same (better) product/experience which made them fall in love with your brand. Try to maintain the same standards.
5. DELIVER ON YOUR PROMISE- Be sure you deliver what you promise. In fact, it’s even better if you over-deliver it.
This kind of service/product will ensure brand loyalty and build trust. You will not only be exceeding expectations but also separating yourself from the competition. With changing times it has become very important to keep up with the competitors and build strong brand loyalty amongst your customers. No matter how challenging it might be, building brand loyalty is a must and the returns are promising. It may take many efforts to attract and retain the customers but believe me loyalty is worth the efforts.
When customers are loyal to your brand they brag about it to their families, friends and even share it on websites and social media, this becomes word of mouth marketing and it has the power to reach the targets which cannot be attained by best of campaigns.
There is nothing better than a customer promoting your product.