Understanding of loyalty brands, benefits, and effective ways to increase it
Brand Loyalty is one of the highest achievements in a brand or company. Terms like this have close meaning with repeat purchase or repurchase from your consumers or customers.
So, if we compare it with brand awareness and brand engagement, the Loyalty brand has greater responsibility in maintaining consumers.
Well, on this occasion, we will discuss deeper about the understanding of brand loyalty and the right way to increase it.
The understanding of the loyalty brand is
Reporting from the Marketing Tutor’s page, Brand Loyalty is a mindset and consumer behavior that is more likely to have commitment to a particular product or brand and they continue to make purchases repeatedly over time.
While based on the Maven track page, Brand Loyalty is a tendency to be able to buy products from a brand rather than other brands.
Based on two explanations above, we can conclude that the loyalty brand is a brand ability in maintaining consumers to continue to believe and make purchases on the brand.
Consumers from companies with high loyalty brand will continue to be willing to make purchases from the brand. They will have no effect on price increases, comfort, or other factors.
Even this consumer will always choose the brand even though there are other competitors companies that are assessed by some people able to influence the brand.
Why can this happen? Because in it there has been mutual trust that is established between the consumers and the brand. Consumers believe that the brand is the best brand and it is in accordance with it.
The benchmark from this loyalty brand is not only in increased income. Because, the loyalty brand is also about the number of loyal consumers that are higher than anything.
In fact, in the same time they can also become a brand ambassador or party that gives useful criticism in a company.
The benefits of loyalty brand for brand is
By having a high loyalty brand, it means you have consumers with very high loyalty. That is, these consumers will always choose your brand than other brands or your competitors … Well, here are some other functions of the loyalty brand.
1. Reducing marketing costs
If you already have a good loyalty brand, it will have a major impact on the marketing strategy budget that you will spend later. The cost you spend to keep customers cheaper than having to bother looking for new customers.
This is because you already have customer data and know which media is effective for reaching them.
2. Increase sales
If your consumers already have high loyalty in a brand, the consumers are almost certain to continue to buy products or services from the brand. In addition, if your brand has launched a new product, their attraction to try it will be very high, so it will increase your business sales indirectly.
3. Attract new customers
If there are customers who are satisfied and have believed in a brand, the customer can almost certainly want to use it continuously. After they feel satisfied on a product, they also will usually recommend the products used to their families or people closest to want to use the same product.
So, the loyal customer will be your brand’s business advocate and attract new customers to your brand.
4. Give time to respond to competitors’ threats
Brand Loyalty is able to provide time and an opportunity for you to be able to respond to threats from competitors or competitors.
If they succeed in launching new products, then loyal customers or loyal customers will provide time on your company to immediately develop products produced by adjusting or making new innovations so they can compete with new products released by competitors.
Well, based on a complete explanation related to the function of the loyalty brand above, then we can conclude that the brand loyalty is one of the keys to success in a brand. The higher the Loyalty brand level in a brand, then he will become stronger and more able to last long.
How to Increase Loyalty Brand
Reporting from the Crazy Egg page, there are some important things that a company can do to increase its loyalty brand. Some ways that companies can do to improve the loyalty brand are as follows.
1. Increase Brand Engagement
Basically, the loyalty brand is about how you are able to reach, maintain, and also retain customers who previously existed.
But before you can defend them, of course you need customers to get to know or be bound first with your brand.
Then how? The trick is to often provide updates related to your latest product, provide promos, and also do anything else. Convey two-way information and communication. That is, not only you provide information on them.
In addition, you can also open a discussion room so that they can be involved in the conversation.
2. Understanding what makes consumers loyal
Based on the Fortune page, as many as 42% of startup companies failed because their target market turned out to be not in accordance with what they had to offer. For this reason, you must be able to determine and adjust it from the beginning of the target market and adjust your product with the target market.
Afterwards, pay attention to anything that makes them prefer your brand, whether it’s from quality, price, etc.
Make sure whatever makes them loyal, then pay attention to these various things.
3. Make sure the brand is consistent
Continuing previous points, a brand must be consistent with what it offers. Once consumers have liked your brand, then that means there are certain things that really make them really like the chosen brand.
But if what they liked by them turned out to be inconsistent, then most likely they would also move to other brands.
4. Create an eye-catching logo
The logo is a simple component but has a very deep meaning of a company. The logo reflects the company to grow and develop.
The simple example is as quoted from the Inc page, Redbull and YouTube using a red logo that represents emotional, active, trust, passionate, intensity, love, and aggressiveness.
With a good logo, a brand will be easier to famous and recognized by customers.
5. Introduce Your Brand Value
Each brand certainly has its own value or value. In addition to the product, Brand Value is also the reason why consumers choose the brand. They believe that the company has the same value or almost the same as it.
For this reason, introduce your brand value as wide as possible so you can convince consumers that your brand is the best choice for them.
6. Bring consumers back
In the end, the Loyalty brand is about consumers who come back to use the product of goods or services from you. Therefore, you must be able to make sure they choose your brand again.
The method is a lot, you can provide member cards, promos, subscriptions, etc. This will bind your customers to be willing to become loyal customers and re-choose products from your brand.
Example of a successful brand loyalty
Actually, there are a lot of brands that have been trusted and have a very high loyalty brand.
For example, based on the official website of Investopedia, one of the companies with a high brand loyalty and is expected by other companies is the Apple company.
At present, Apple already has more than 2 billion iPhone customers. Almost every year, this Steve Jobs pilot company released the latest iPhone with the more new quality.
Therefore, it is no wonder if more people are willing to queue long to get new Apple. This happens because Apple’s quality is very high.
Every Apple product is able to help its customers in order to work more productively and experience increased income. So, they continue to buy Apple products in order to increase their productivity.
So the explanation of us about the loyalty brand. So, we can conclude that the loyalty brand is a brand ability in maintaining consumers to continue to believe and make purchases on the brand.
The benefit is to reduce marketing costs, increase sales, attract new customers, and also give time to respond to threats from competitors.
How to Increase Brand Loyalty is to increase brand engagement, understand what makes consumers loyal, ensuring the consistency of the brand, creating an eye-catching logo, introducing your brand value, and bringing consumers back.
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