Are your customers loyal to your brand? Do they buy your product or take your service regardless of price fluctuation? You must have asked these questions to yourself a many times.
Good for you because we will try to answer these questions and understand consumer mindset in this very post.
Brand loyalty is indeed very hard to achieve. Now that every business has its multiple competitors, it has become more of a herculean task to make customers loyal to your brand.
But why do you want brand loyalty in the first place? If you’re getting a very good number of new customers each month then maybe you wouldn’t care about brand loyalty.
In other words, you wouldn’t care to retain your present customers.
As bad as it sounds, this nonchalant approach is also very bad for any business in the long run.
Today, buyers spend a very significant amount of time in researching about the product before making a purchase.
And most of the times, this research happens online.
This is where your army of loyal customers comes into the picture. They are promoters of your brand.
They write all good things about your service and product on different online channels.
Now let’s address the lingering question here. What are the factors that trigger such strong customer connection to a brand?
1. Status and how you feel about the product
If your brand offers intangible things that people can connect and relate to then it is very highly likely that you already have customers as your brand promoters.
Apple, for an example, has done a marvellous job in this space. No matter how crazy they price their products, they always manage to sell them like cupcakes.
People do care about their status. Apple does know that and they offer a very simple value proposition that tells buyers that they will be in an elite class when they own Apple products.
2. Personalisation helps in brand loyalty
With personalisation, brands can easily connect with their customers emotionally, which is a strong catalyst for bringing brand loyalty.
Customers wouldn’t want to look at your competitors if you provide a service/product that answers their specific and personal need.
As an example, Virgin Hotels Chicago focuses heavily on personalisation to improve the customer’s experience throughout their stay.
They created an app, ‘Lucy’, which allows their guests to customize their hotel experience like adjusting room temperature, making a dining reservation, etc.
3. Community and sense of pride
If personalization is not possible on an individual level, then businesses must consider building this strategy on a community level instead. And in a community, pride matters a lot.
For example, Harley-Davidson had faced extinction in the year 1983. But after 25 years, they came back as the global giant values at $7.8 billion.
How did they outweigh their competition and achieve such commendable success?
They could able to do so with their commitment to building a brand community: customers with a shared sense of a particular lifestyle, attitude, and pride of owning a Harley.
Their advertisements speak of a lifestyle and a way of living
With having brand loyalty in place, customers wouldn’t care about the price tags. As long as they are connected emotionally, they will continue to show support.