The definition of brand loyalty is very simple and straightforward: it’s the tendency for buyers to return to the same brands, products and services, rather than seeking out the competition. While brand loyalty may be a simple concept to understand, it’s an incredibly difficult goal to achieve. But it is crucial to the future growth of your business – in fact, the future of your business hinges on consistently generating and maintaining brand loyalty.
The Value Of Brand Loyalty
Why is generating brand loyalty so important? It’s all about the numbers. According to the Marketing Profs, on average, loyal customers only account for 20% of total customers. But interestingly enough that 20% drives 80% of revenue and 72% of total visits to your business, and loyal customers tend to spend ten times more than new customers! Simply put, your most loyal customers are also your most valuable customers. A business, big or small, that can increase brand loyalty will, in turn, increase their revenue, transactions and profitability!
The Secret To Creating Brand Loyalty
You may be wondering if there’s a secret formula to generating brand loyalty. Sorry, the headline to this section is a bit misleading, because there isn’t a secret formula. While there isn’t a secret formula, there’s more unfortunate news: it’s not easy or simple, either. Generating brand loyalty requires hard work, perseverance, dedication and attention to detail. It involves engaging your customers on every level, from the moment they become aware of your brand until well after they have completed their purchase. It involves treating every customer as if they were your most important customer, because they are.
Following Up, Following Through
If you’re going through the hard work of generating customer loyalty, it’s crucial to ensure that your branding, especially your digital branding, and your marketing and advertising initiatives reflect it. Your brand should accurately convey your commitment to customer satisfaction and retention, and it’s not “bragging” to illustrate and amplify this commitment. However, your branding, advertising and marketing is not a substitute, and no amount of exceptional branding can cover up the fact that you’re not following through on the commitments and promises that you’re making.
We Have Powerful Tools
The team at Blue Zenith includes experienced experts that understand digital branding inside and out, but your brand isn’t the only element in this equation that we can help you address. A versatile website built with industry-leading content management and e-commerce systems can help you automate the process of following up during and after the sale and following through when one of your customers has a question or concern. By using these powerful tools in conjunction with a powerful brand, you can make the process of generating brand loyalty easier and more consistent. Learn more about the ways that Blue Zenith can help your business, and schedule a Website Design Initial Call with me today!