Thursday, 23 September 2010

What is Brand loyalty?

Have you ever wondered what Brand loyalty actually is? A lot of companies and their marketers will go on about how they have such a large base of loyal followers who will only consume their brand, but how true is that. Or is it simply the case that they have the best offering? That they are the cheapest, most convenient, hold the most prestige or invest the most in marketing?

A consumer is only truly loyal to a brand when they have viable and attractive alternative options, and still choose the stated brand over them. This only happens when a lasting, interactive and deeply resonant relationship has been created, developed and nurtured by the organisation. Creating a loyal brand following is costly, time consuming and detrimental to short term goals, but in the long term business strategy it is consistently the best way of ensuring survival and long term stability, regardless of your competition or what obstacles are thrown at the company. Creating experiences, a sense of community and the feeling that the consumer is appreciated and loved all create the level of intimate relationship which creates strong brand loyalty.

Companies such as Nike, Apple and McDonalds have spent fortunes on developing brands which create communities with their consumers and in which they can experience direct relationships with, and as such have extremely loyal followings who wouldn’t even consider consuming their rival’s offerings. How can you create and develop relationships that will create the same level of true loyalty?

No comments:

Post a Comment