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Loyalty Build Brands But Consumers Can Lose Loyalty
Do you have a favorite product or service you like to purchase? If so, what keeps you loyal to that brand?
• It’s reputation and customer service
• It’s loyalty program and benefits
• Savory food or beverage
• Good deals and pricing
• Nostalgia or sentiment
• Culture or perception of value
If you make purchases repeatedly with a particular brand, then that brand is resonating with you. It’s leaving an impression, building your trust, and solidifying your relationship to that brand.
Making a connection with consumers, starts with doing one thing differently. If a story happens to be wrapped around one different advantage, then the benefit becomes memorable. It’s why many of us love Hallmark commercials or ads during the Superbowl—a story is wrapped around that brand’s different advantage.
Stories are easy to remember because the brain processes information visually and attaches a story to that brand. Through emotion and empathy, the brain takes a journey leading to responsive actions like purchases or persuasion.
The same is true when someone shares their story or experience with others. A word-of-mouth conversation can be persuasive leading to repeat purchases and new patrons.
Loyalty Is Important And Change Can Be Pivotal
While a brand’s culture can establishes certain beliefs, behaviors, and actions that keep it’s brand consistent—it can also risk it’s reputation and loyalty if consumer expectation is eruptible changed. The best course of action is to maintain the brand’s one distinct advantage that has captured their market.
Anything that deviates from an existing market advantage can quickly become a disadvantage. Here’s what brands should avoid:
• Don’t neglect brand consistency by lowering expectations or saving cost
• Get ahead of a brand’s tarnished reputation which can go viral or lead to brand boycotts
• Stay away from politics
• Avoid growing too fast which can disrupt your one advantage
Change Can Be Good
There’s one reason when change must occur—and that’s when a brand’s advantage is no longer viable—fearing the brand’s longevity will be in jeopardy. We’ve seen company’s whose market advantage quickly became a disadvantage due to poor decisions. As in the case of Kodak who originally owned the photography market but chose to consciously pass on the digital revolution.
Case in point. Don’t mess with loyalty. It’s the ultimate reward when a product or service has reached ownership through market leadership and financial growth.
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