Do you think of your business as your brand? You should. Are your marketing strategies focused on growing brand loyalty? They should be. There is a difference between customer loyalty and brand loyalty. Customer loyalty relates to those customers who keep coming back because of your lower prices or better assortment. Customers who are brand loyal remain customers because they believe you offer something others do not, such as customer service, advice, and higher quality-the consumer connects with you. These customers also do less comparison shopping. Do you do any of these marketing strategies to develop and grow brand loyalty for increasing customer lifetime value?
1) Promotions that focus on keeping your brand top-of-mind for sustainable reasons
2) Branding that establishes brand storytelling
3) Practices that allow you to connect with customers and anticipate their needs
4) Delivery of personalized experiences for your customers
5) Implementation of loyalty programs that are meaningful
6) Incentives and opportunities for brand engagement not simply based on sale prices/coupons
If you were to ask your customers what your brand means, what would they say? Are you delivering the right brand image that creates brand loyalty? What brand image is being created by your advertising, store, employees, management team. Are you truly connecting with your customers or are they just a number? Advertising works, especially when it is consistently presented so to create brand top-of-mind mind awareness with a meaningful message. If you do not have have top-of-mind recall, if you are not in a consumer’s evoked set, sales will be lost to competitors. Successful branding is more than just a logo. It is a way of doing business. How can you make your customers connect with who your are—your brand?