We are all obsessed with ‘brands’, we so want to buy brandy things. But when it comes to choose brands, we prefer to purchase things only from certain brands, for ample of reasons. In short, we offer our loyalties just to certain brands. This trust that we invest in certain brands is called as ‘brand loyalty’. Inc.com is a place which could help you to increase your business.
What is ‘Inc.com’?
In ‘inc.com’, inc stands for impacting neighbourhoods and communities. These terms collectively represents the projects which are either run individually or in partnership with Jubilee Church, Worthing.
The leaders share their views with one another to move forward in their businesses during the monthly meets.
The inc community works together with different organizations for the betterment of the community.
What is Brand loyalty?
It is the consumer’s loyalty that they give in return to the brand for the fulfillment of their expectations. It is an emotional decision of the customers to purchase a particular brand again and again. The consumer’s decision could be conscious or unconscious, it always depends on the trust that brands have been able to create within the consumers..Brand loyalists do not purchase substitutes instead of their brands, instead they would drop the idea of purchasing, if their brand is not available. Brand loyalty depends on perception. A brand loyalist will purchase that brand repeatedly as he feels that it is the most superior products amongst all the options available. It has to be noted that brand loyalty does not relate to a company, it is related to products.
Benefits of brand loyalty to businesses
A successful brand with loyal consumers has the power to withstand all major and minor factors that come to them. No matter what the situation is, the brand lovers will continue buying the brand they love. Hence brand loyalty, gives a successful and long-term business. The value of brand loyalty directly relates to brand equity. Hence, brand loyalty is a measure that predicts your future performance and calculates your day to day success. Never under estimate brand loyalty as it is tool that could increase a business due to emotional attachment.
How can brand loyalty be created?
Focus on being better than the rest: You got to focus on that one think, that has been doing well for you. Being the best does not allow the consumers to go for substitutes as they are well- versed with the fact that they cannot get something better than your product.
Create a sense of belonging: Give people a reason to be connected with you and loyal to you. Make them realize that your products is the best and make sure that they love your brand.
Credibility: Your product might be the best, but the advertising materials are copied or does not reflect your brand’s identity. Great aesthetics, user attracting sites, materials give a sense of credibility which in turn leads to consumer’s trust.
Create a connection with the audience: Try to talk with consumer’s in their way or try to make them understand the way you want them to talk about you. This could be obtained by developing tag lines and messages.
Be repeatetive: Understand the needs of the customers, avoid be too stale anf avoid making changes too fast.
Significance of brand loyalty:
Brand loyalty is an important factor to a business. Brand loyalty increases the volume of sales and therefore the cost of production is decreased. The companies will have to spend less on the marketing of the product and they can invest this money on some other resources. Premium principle can be used by the companies to increase the profits. And the most important factor is that the loyal consumers tend to recommend the things they love.
Review of Brand loyalty and social media by ‘inc.com’
It has become way easier to market things today than it was 15 years ago. Earlier, the brands could be marketed only through newspapers and televisions. But lucky is today’s generation to have social media, where branding has become much better. How could the social media be handy to increase brand loyalty?
Make the customers engage in the products: Loyal customers not only buy the products but also increase the sale by getting in more people. How can people be engaged? This can be done by creating posts that exite the customers and ask them for participation.
Share the loyalist’s stories: The most effective way to attract the audience is to share their stories. By showing them the care, their involvement can be increased. Campaigns can be held where people who buy the brand can be featured or an award like ‘ the most loyal consumer’ can be given. This will be more eye appealing to the audiences and will make them realize your efforts.
Respond quickly: Be quick in your responses, may it be an answer to a question, being thankful or just a comment. The efforts will be appreciated by the haters too.
Expert reviews: The audience come to social media to know the quality of the brand. So apart from having brilliant people who can give positive response, there has to be an expert too that could give the right stats about the brand.
Define yourself properly: Never let other’s define the brand, be well-versed with all the factors of the brand. Do not let the competitors define it for you.
Once you get a hang of the social media, increasing brand loyalty through it could be much easier and convenient.
Other factors to be kept in mind to increase brand loyalty are:
Deliver the products on the time promised.
Provide the quality of the products promised
Be inclusive and not exclusive: Never be brand that doesn’t want to serve a certain number of people. Always be ready to serve the brand in any situation.
Brand loyalty is a very important tool for increasing business and significant efforts have to be exerted to increase it. All that has to be done is to convince the audience as to why is your product better than the substitutes. The only aim is to bring brand loyalty for as many products as possible.