All business expansion depends on sustained brand loyalty. It goes beyond customer retention and is primarily about the emotional engagement of customers with a brand. This implies that the main objective of building a customer base goes beyond customer retention to building a set of loyal customers that are emotionally invested in the brand. These customers not only stick around for a long time, but they also actively engage in brand advocacy, which draws in more leads and devoted patrons.
Have you ever thought about what keeps people patronizing a brand consistently, despite the sea of options available? There’s obviously a secret, and that’s what this blog post seeks to expose. Going further, you will understand why it’s more beneficial for your brand to focus on brand loyalty than customer retention and the strategies required to build brand loyalty.
In marketing, brand loyalty refers to a customer’s preference for a particular brand or company amongst other competitors. It is a strong connection that customers feel about a brand, which is fueled by a strong emotional connection, positive experience, and perceived value. It keeps customers emotionally invested in a brand, irrespective of other obvious factors. For instance, there are customers with an unwavering preference for Adidas products, while some customers prefer Nike. The brand loyalty of these customers keeps them in search of their store of preference, despite their location. This implies that when an American Nike customer travels to Europe, he will most likely prefer to shop from a Nike store, irrespective of other available options. This is the power of brand loyalty.
So many people have made the mistake of assuming that customer retention equals customer loyalty, but that’s not the case. Brand loyalty is a deeper relationship that occurs between a brand and its customers. In customer retention, customers tend to continue purchasing from a brand due to convenience, habit, or price. However, in the aspect of brand loyalty, customers are emotionally invested in the brand; it’s a strong emotional connection they have with the brand that gives them a sense of fulfillment and satisfaction when they purchase from the brand.
Though it’s important for brands to focus more on both customer retention and brand loyalty, it’s more profitable for brands to invest in brand loyalty, which is influenced by internal factors, unlike customer retention, which relies on external or changeable factors.
To elevate your brand from the level of customer retention to brand loyalty, you need to incorporate the following strategies into your customer experience and product development:
Brand communication has to do with everything a brand represents. Customers are more drawn to brands with authentic values such as excellence, durability, good aesthetics, etc. that they can easily connect with. Building authenticity starts with having a solid brand identity that is consistent throughout the customer experience. Authenticity builds trust in customers, especially when it remains consistent over a long period of time. There are brands that reduce the quality of their products to gain more profit when they notice an increase in their customer base. However, this results in the loss of customer commitment, trust, and brand loyalty. Once customers can trust you as a result of the consistent and authentic services you provide, they are more likely to stay loyal to your brand.
Coupled with authenticity, providing exceptional customer service is a great way to build brand loyalty. When customers are valued and appreciated, it gives them a sense of importance that makes them emotionally connected to the brand. Therefore, ensure that whenever customers have any form of interaction with your brand, whether online or offline, they are given a positive impression that informs their importance to the brand. To achieve this, invest in training your employees to treat customers right and also ensure that there is consistency in communication, both online and offline. Also, giving your employees the right experience largely influences their service to customers.
Remember that despite your large customer base, your customers still want you to treat them specially by interacting with them individually and not collectively. Therefore, tailor each service according to their unique customer behavior. Send emails that resonate with their buyer’s journey and give product recommendations that align with their interests. With those, their interest in the brand grows, and they are likely to grow their purchase list.
Communication breathes life into a brand’s relationship with her customers, and if the relationship will be authentic, the communication must flow from both ends. Create a platform and the right atmosphere that encourage customers to give feedback. And, when they do, act on their feedback immediately. It helps them to build trust around your services, especially when they are confident about getting the best from you and know that you are ready to make adjustments whenever they make complaints.
Other strategies that help build brand loyalty include creating loyalty programs that reward customers for their patronage, building a community to give customers a sense of belonging, and engaging customers.
Building brand loyalty takes a lot of effort and requires consistency. Customers will only trust a brand whose values are consistent throughout their points of interaction with the brand, which includes the products, customer service, social media engagements, campaigns, etc. Every brand seeking to grow their customer base and improve profit-making should focus more on building brand loyalty, following the strategies highlighted above.
