WHAT IMPORTANT BRAND ATTRIBUTES LEAD TO AN INCREASE IN CUSTOMER LOYALTY?
In today’s world, creating loyalty is a huge deal and that too in the business world to keep up to the loyalty of the customers is one big task.
Customer loyalty and Brand loyalty are closely linked but they are actually 2 different concepts. There’s only a thin line that is in between the two. The major difference between the customer loyalty and brand loyalty is that customer loyalty relies on spending overall power on consumers whereas the latter one is all about customer perception of you. Brand loyal customers will be committed to a brand irrespective of price,
Statistics shows that even your loyal customers are likely to shop around. As per reports 82 % of adults are loyal to their brands, 54 % are reported to be switching their brands and 13 % are reporting that they will not shop around if they are loyal to a particular brand or company.
BRAND ATTRIBUTES THAT DRIVE AN INCREASE IN CUSTOMER LOYALTY:
Now-a-days customers are most savvy than ever before. Therefore the values or attributes that drives an increase in customer loyalty are
- Customer service
- Social media
- Discounts and offers and last but not the least
As the quote suggest “To be trusted is a greater compliment than being loved”, Trust is the base or rather a foundation to loyalty. The brand has to be trust-worthy in order to win the consumers heart. When a brand earns trust from its consumers it’s when the brand benefits huge. When consumers have enough trust on the brands, they not only purchase stuffs from the brands but also stand up, advocate and defend the brands reputation when needed and in turn show their loyalty towards the brand. Trust has very clear ties to loyalty. Statistics shows that 62 % of consumers stated that they are loyal to the brand they trust.
When a brand is being built, most brands owners shift their attention towards their product. But it’s not all about it. Honesty is a key trait that attracts most customers but a very few brands keeps an eye on it rather than focusing on money. Being transparent helps you to be honest. Be willing to answer questions and showcase the real side so as to be honest. Willing to accept mistakes is also another trait of being honest but quickly try to change your flaws rather than hiding it. Try sharing testimonials and customer reviews so that new customers get to know that your brand is honest and trustworthy.
While consumers try to purchase quality and good stuffs they also expect or desire respect from the brands. Reports shows 42 % of consumers don’t have loyalty towards the brands and for the most part, the reason for this is due to the arrogance the brand throws up on their consumers and also the spread of fake news.
As consumer expectations are on another level, it reflects on corporate responsibility. Studies suggest that corporate responsibility increase in consumer’s value. Corporate responsibility has both direct and indirect nature. Corporate responsibility ha a greater value in today’s business and economy and it also supports communities outside financial side of business.
The act of compassion can turn a frustrated and angry customer into the brands biggest advocates and defenders. When staffs act compassionate towards customers, it can increase satisfied and happy customers which in turn increases customer’s loyalty. Studies says that 80 % executives feel that they understand the need of the customers but only 15 % of consumers agree to the statement. Only when this condition reverse, the brands will be able to attract more loyal consumers. When being compassionate the brand will be able to connect with and affirm to customers feelings. It helps customers to feel heard about their feelings.
Customer service plays a major factor in customer loyalty and brand upliftment. It’s because the customers decide whether to purchase from the same brand the next time based on how well the customer service is. It’s based on how well the customer is been provided by the product and sold. The main key in customer service is consistency. Not to forget, even after the stuff has been shown it is the customers service responsibility until they choose to decide. Great customer service can improve customer retention and it can repeat business. A good customer service can improve new customers through positive feedbacks and reviews.
Social media in itself plays a vital role in this modern day and adding to it customer service through social media is nothing short. It creates platform for interacting, writings complaints, giving feedback and reviews. Social media store has now become everybody’s cup of tea as it is easy to handle and comes with a lot of advantages. Shopping online has now become a trend than in store shopping and it is pretty good as it serves the purpose in this pandemic time.
DISCOUNTS AND OFFERS:
Still offers and discounts seem to hold a lot of clout among consumers. If the stuff from discount section seems to be valued and are of good quality then the consumers will stay loyal to the brand and it can also increase consumers. Reward card and gift card can also be a part of these offers which in turn attracts consumers. But apart from this loyal customers will be committed to a brand irrespective of price.
Nostalgia, a powerful human emotion has a potential to influence customers to buy stuffs that they don’t really need but rather it’s a want that urges them to purchase. This can mainly help the brand that sells stuffs from the past or even when a particular customer has some sort of back story to a particular stuff. Well, keeping the customer satisfied and happy is a hard task but it’s absolutely worth it if you want to invest in a brand. It’s the little details that has to be given attention to so as to run a brand that is customer friendly which in turn increases the customer’s loyalty.