How to Develop Brand Loyalty?
Creating brand loyalty is an important parameter to survive in contemporary extremely competitive
world. Below are some aspects that can be looked at while working on enhancing brand
loyalty:
Creating Sense of Commitment: A critical factor to be considered while developing brand loyalty
is building a connection between the consumer and the brand. Commitment can consist of both
attitudinal and behavioral components, and both of them are equally important.
Many brands also offer brand loyalty programs to keep their existing customers engaged and
connected.
Ensuring Consistency of Purchases: Businesses convince potential customers about the significant
advantages their products offer over other products in the market. It helps them justify
the consistency of their purchase of the products.
Staying on the Toes for Consistent Quality Offering: Businesses need to focus their energy
on client’s expectations, which if unfulfilled will lead to clients substituting with competitor’s
offerings. Delivering quality products matching with customer preferences and tastes is critically
important.
Advertisement and Marketing Plays a Key Role: Companies who produce quality and reliable
products or services at perfect pricing to dominate the market space optimise brand loyalty
by advertising these variables successfully. They can frequently advertise with feel-good
elements, catchy phrases, humour or emotional appeal or interest.
Advertising the brand and its eye-catchy logo, along with key features and pricing on different
media and social platforms aid in enhancing the process of brand loyalty.
Creating Brand Loyalty Towards the Business: Many times, marketers are seen boosting the
preference given by the customers to their products over other products. With such advertising
promoting brand loyalty to one of the products, marketers try to develop brand loyalty towards
the overall company and other products.
Building Loyalty with Customers: It is said that the way to increase brand loyalty with
the customers is to be loyal to the customers. Brands which develop solutions to deliver
the right service and support along with the quality product achieve loyalty from customers.
Satisfactory Customer Service: Marketers often wonder if it is developing a unique product
enough. In times like these, when one unique product is launched, within a few months,
' competitors will come up with a similar product probably with less price and more
features. Hence the brand loyalty now depends on the services the company offers and how
it communicates with the customer.
When a satisfied customer is engaged for a more extended period, it creates a connection
between the customer and the company which is beyond a business relationship. Brands
these days use social media as a platform to reach out and connect with the customers.
When a consumer shows devotion, bond and commitment to repurchase and continue to use a brand's
products or services, regardless of the competitors’ products or pricing, companies can be assured
of their success in creating brand loyalty.
How to Evaluate Brand Loyalty?
Time, volume, frequency and price of sales are quantifiable measures to measure brand
loyalty. While, Customer satisfaction, as well as an emotional appeal are statistical
approximations that are unreliable most of the time.
Big data provides statistical information, but it's not an accurate permutation combination
formula to determine brand loyalty.
Therefore, it is said that brand loyalty is like an art and not a science.
Below influencing factors are considered while evaluating brand loyalty success:
Price Geography
Time spent viewing product ads Volume of the product at the store shelves
Frequency of the ads shown to the audience Emotional appeal
These factors do not determine brand loyalty accurately with merely having statistical
results. There is no such possible cause-effect analysis of the data as brand loyalty depends
on many vague concepts and variables.