This week's blog post is a guest post on the topic of brand loyalty
Loyalty is an important concept in any area of life. If you remain loyal to someone and them to you, then you know that you can always count on them.
This can be a difficult concept to translate into the business world. Although in the past customers were fiercely loyal to a brand or even a particular store, the modern consumer is generally easily influenced by the price of an item.
- Know Your Customer
To build loyalty you need to know who your customer is. If you are designing a new running shoe you will probably not be aiming it at the older generation.
To successfully build customer loyalty you must establish not only who your customer is, but also how they shop and what influences them. The best way of doing this is to track your customers; this will ensure your target base is the same as the customers which are actually visiting your site and stores.
- Know Your Marketplace
You also need to be aware of your competition. Building brand loyalty means standing out from your competitors by offering a product which is better made and better known. McDonald’s is known across the globe and has changed its menus to keep pace with changing dietary demands. This helps it to retain brand loyalty; it knows what sells in its marketplace and so should you.
- Create a Quality Product
To establish brand loyalty you must have a product that is well made. This will ensure customers are happy, they tell others and your product becomes known as one of the must have items.
This process does take time but it is worth getting the quality right at the start. No one likes to spend money on something that lasts just five minutes and they will certainly not buy another product or recommend you to a friend
- The Right Logo
Your logo needs to be simple yet bold and effective. This will help it to be recognized across the globe and become something that people are proud to have.
Although bold is good you must also be aware that if you are making products to wear, the logo must be incorporated into many different styles of clothing.
Once you have established your logo it is this which should be promoted; the actual product will be known through your brand; allowing you to market many different products with one simple advertisement.
- Incentives To Return
Customers like to feel they have got a bargain and that their business is noted. This means rewarding them. There are many different ways of doing this now. You can provide loyalty cards, discounts online to specific customers or even discounts of second or third purchases.
Technology allows you to know your customer; this gives you the opportunity to provide them with a unique offer which will build your brand loyalty; they will feel special.
These tips are a good start in cultivating brand loyalty. If you have additional tips, please comment below and share them.