What is Brand Loyalty?

The importance of Brand Loyalty for Business is ever growing especially in todays climate. So what exactly is brand loyalty and what can you do to build it? Firstly by definition, brand loyalty is when a customer will continue to purchase an item or service from your business. They believe in your brand and do not return just because you may be the only option. Most people like to shop with the brands that they can trust. Their preference will sway for a brand that feels familiar and delivers on what they promise. If you take a moment to think about some of your favourite brand, what is it that drives your preference. Does the company provide good customer service? Is it about price point? Do you enjoy the experience? Or perhaps it’s a combination of aspects. What ever the driving force is for people’s preference, you want you business to have a strong brand loyalty for growth and success.

Is Brand Loyalty Important?

It most definitely is! Whist focusing your efforts on introducing new customers to your brand is vital. It’s important not to miss our on opportunities from re-occurring customers. If a customer only makes a one time purchase and is never to return again, they’re not going to have a huge impact on your business revenue.

However if you focus on building brand loyalty, customers are more likely to return to your business which will drive profits in the long term. In addition, they are more likely yo recommend you to their friends, which is crucial for brand awareness. .

Here are some ways in which you can create that sense of customer loyalty for your brand.

Keep Your Brand Consistent

Brand loyalty starts with trust. Customers need to have a positive consistent experience each time they encounter your brand. Furthermore

Take the time to develop your brand identity, define what your brand stands for and how you want to communicate that to your customers. This should be made consistent across all of your social media platforms.

The more consistent and authentic you are as a brand, the more customers will trust you and brand loaylty will grow as a result.

Ensure Your Pricing is Competitive

There can be no doubt that we will be feeling the impact of the pandemic for a long time. This especially rings true when it comes to finances.

In fact, a recent study found that consumers in the US and UK said they’d been opting for cheaper options for all types of purchases and are more frequently discussing where to find more affordable item. There is also and increase expectation for promotions and discounts.

Value for money is a vital consideration for consumers when making purchase decisions. Continue to build brand loyalty by keeping an eye on pricing.

Use Influencers to Promote Your Brand

When it comes to furthering your engagement with your customers and building your brand’s loyalty, turning to influencers on social media channels may be a safer bet. Those with a high following will carry a much higher price tag but have more potential to reach a wider audience.

Consumers are increasingly finding social recommendations, whether that be online or through word of mouth even from other consumers they don’t know, the most reliable form of testimonial.

Incentivise Your Customers

A lot of companies put in a lot of time and effort into converting their prospects into customers. Once in, they completely drop the ball after a purchase has been made. Brand loyalty requires just as much time and effort into taking care of your existing customers as you do getting new customers in the doors.

Things like existing customer discounts, exclusive events and early access to sales or product launches are a great way to add value and show your customers you appreciate their business.

When your customers feel valued and taken care of, they’re also going to be more loyal. They are more likely to recommend you to their friends and continue doing business with you over the long-term.

CFM GROUP has over 8 years of experience in the Digital Marketing Industry. We are proud to have more reviews than any other local company in our industry, assuring our customers they are in good hands. Every single website we create is bespoke as no single client is the same. Getting to know your business and your exact needs are integral to producing a beautiful website, that not only looks professional, it sells your services or products to your target audience effectively.

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