Brand Loyalty is One of a Company’s Most Important Assets
Brand Loyalty is when a customer becomes a loyal purchaser of a company’s product or service. The customer recognizes that the brand provides the best quality product or service at the best price. In order to be successful, every business must create a marketing strategy that results in brand loyalty.
To create brand loyalty, a marketer must create messages that tells consumers that their products or services are of value and is something they will need at that moment and in the future. They basically want to influence the consumer’s buying habits. They do this by creating ideas, unique concepts, and messages, to make the product positive and memorable. They use creative marketing techniques to do this. When the consumer receives the messages, and is influenced to try the product, and then comes to the conclusion that this is a quality product that they can afford to continue buying, brand loyalty is achieved. Customer satisfaction is a key component.
There are a number of techniques used in achieving brand loyalty. Creating a promotional marketing plan and strategy is one example. Marketers can give away free samples at various functions such as a supermarket or a large event where there are a lot of people such as a sporting event. Another promotional program that can be implemented is using loyalty reward programs such as loyalty card. For instance, it could be a card to acquire so many points to earn a free reward, or buy so many items such as buy 10 items and get one item free.
Creating a brand line of promotional items is another way of creating brand loyalty. This can include putting the company’s logo on T-shits, hats, and other memorabilia. Using a mascot for the company’s brand is another way to gain brand recognition. Using a website to offer customers the ability to interact with the business is a way for the company to establish a personal relationship with their loyal customers. They can use a website for special promotions, keeping customers up dated on current events related to the product, sending out newsletters, and offering members special discounts on items. Using modern technology such as Facebook and Twitter also allows the company to spread their message, vision, and information about their product.
Displaying the brand logo anywhere and everywhere possible is essential to creating brand loyalty. Such places can include sporting events, charity events, on billboards, on digital signage, public transportation such as a bus, and more. It is important that the company not only establish a memorable logo with their product, but also a memorable message that can include using a special ‘catch phrase’ that will be remembered.
Creating brand loyalty often makes the difference between having a successful product or service and having a product that falls short of consumer demand. Because the retail industry is highly competitive with so many businesses looking to acquire customers, it is important that a business comes up with a marketing strategy that creates brand loyalty. A positive and memorable brand image surrounding a company’s brand gives the business a competitive edge. Brand Loyalty is one of a company’s most important assets.