What is brand loyalty? A mutual trust and a positive relationship between businesses and consumers not only builds brand loyalty but also strengthens it. Brand loyalty can be defined as when a customer has committed to a brand by making repeated purchases which may even put aside price or convenience to the customer in order to get this particular brand’s products/services. If a customer is going out of their way or spends more money to shop with a particular brand, it means they are loyal to the brand.
This positive relationship between the brand and the customer should always be mutually beneficial. Maintaining brand loyalty is imperative to a brand scaling the ladder of their goals and sales. Without maintaining brand loyalty, brands lose out of money and opportunities. Keeping customers happy so they continue to make purchases is critical for each and every brand in existence.
When a brand successfully cultivates customer loyalty, a few factors weigh heavy on that success. The first factor to this is proper marketing. Brands need to be innovate in their designs, strategies, tactics, engagement, and more. If a brand is marketing to their target audience, they want to increase intentional engagement, which then increases customer and sale numbers. Through various styles of marketing such as influencer marketing and email marketing, brands are able to expand their audience reach while also building brand loyalty.
The overall arching fact behind brand loyalty is the importance of building credibility. A credible brand will have customers that trust them, know them, and want to support them. Customers want to know that a brand cares about them in order for this positive relationship to be mutually beneficial. Customers want honesty, they want facts and details, and they also want exclusives which is why they sign up for emails, newsletters, and more.
Building credibility is no short term, silver bullet. This sense of loyalty and trust takes months, even years to build in the eyes of consumers. While credibility requires a great deal of hard work and effort on the brand’s part, a brand can tear their credibility apart in a matter of minutes, seconds, or even days.
After spending years of building credibility among customers, a brand could lose it all in the event that something goes wrong. From media to word of mouth, any brand can easily lose trust, sales, and most importantly their loyal customers.
When a company comes out with a scandal, a scam, or some other kind of major crisis, consumers will know. What the brand does in this event to fix the situation is a critical step that could waver the customer’s loyalty to the brand. This is the single reason that brand loyalty matters more than you think.
Every brand wants customers to come back. Brands that strive for a positive pool of brand loyalty are proof that customers do come back if they’re in favor of the brand.