5 Reasons Why Brand Loyalty Is Not Dead
By now many marketers will have read Kathleen Kusek’s Forbes article “The Death Of Brand Loyalty: Cultural Shifts Mean It’s Gone Forever“. Whether you’re inclined to agree with her opinion or not, the article put the spotlight on consumer loyalty in the digital age.
Kusek contends that the value of loyalty itself doesn’t exist for the consumer because society taught us that “new” is better than “known”.
Society didn’t teach consumers that new is better. It taught consumers to be open-minded. We see examples of brand loyalty every day from our influencers and their audience.
Brand loyalty is not dead. But brands need work harder to keep the loyalty they’ve earned.
This article highlights 5 reasons why brands should not stop trying to earn the trust and loyalty of their consumers.
1. Brands Offer A Rewarding Experience
Product price plays an important role in purchasing behavior but it is not the only factor. Consumers reward quality. If a brand delivers a positive experience with their product, consumers put their trust in the product delivering the same experience for their next purchase.
2. Consumers Are Loyal To Brands Who Listen
Get personal. 97% of consumers said they are somewhat likely to become more loyal to a company that implements their feedback (Apptentive)
Customer service plays an important role in retaining business for brands. By responding quickly on social media and dealing with a problem efficiently a brand can win the loyalty of a customer. (The opposite is true when the experience is poor.)
3. Consumers Still Advocate For Their Favorite Brands
The truth is established brands are not going to lose their street cred unless something really bad happens to destroy their reputation.
Many brands with great products have a loyal base of followers. There are countless examples but here’s a list Forbes created of the most valuable brands:
Many of our influencers are also advocates for the brands they work with. How? Influencers start out by sharing great content about their lives. Products by their favorite brands are part of their lives.
Influencers keep a brand top of mind when followers are consuming content. Influencers are often responsible for creating new brand advocates through the content they publish for brand in a campaign.
4. Time is Valuable – Brand Loyalty Saves Time
Many shoppers do not have the time to stand in an aisle carefully analyzing shelves for the cheapest price tags. Brand recognition plays an important part in an efficient consumer experience.
It also plays an important role in filtering the limitless options available for online product research. If a consumer has a good experience with a brand they’ll be partial to what the brand has to offer before contemplating a switch.
References to products that consumers associate with childhood, or adolescence have a way of continuing their popularity through adulthood. Brands with long histories can depend on brand loyalty so long as the product itself hasn’t evolved too far from its original.
Alternatively bringing back an old favorite can also see resurgence of brand loyalty from formerly loyal consumers.